Griffin Group granted a €46m senior mortgage-backed loan through it new debt fund to Rosehill Investments for a 51,000 sqm land acquisition. Griffin Property Finance II will also cover the pre-construction costs involved in preparing the land for a new retail center. No further details about the project were disclosed at this stage.
Set up in the second half of 2014, Griffin Property Finance II is ready to deploy €200m on the Polish real estate market. Investments will include new development and acquisitions of existing schemes, as well as sale-and-leaseback transactions exceeding €10m. “We’re ready to finance land acquisitions, pre-construction and construction costs,” said Przemysław Krych, CEO of Griffin Group. WestImmo’s Maciej Tuszyński will take the reins of the Griffin’s new financial arm in January.
