Kulczyk Holding secured a €59m loan from Helaba for its Warta Tower in Warsaw. The agreement was signed this week by Kulczyk’s SPV Chmielna Inwestycje. It was not immediately clear what the funds will be used for, but some market watchers speculate the developer may have plans to revitalize the 22-story, 28,000 sqm office project. Located in Warsaw’s Central Business District, Warta Tower is fully leased to the Polish insurer Warta, KBC Group, NextiraOne and the Norwegian embassy.
Set up in 2008, Kulczyk Real Estate Holding targets assets across the CEE region. It established a joint venture with Silverstein Properties last year.
