The Polish Real Estate Holding (PHN) secured more than PLN 67m and €22m in short-term financing from Bank Polska Kasa Opieki SA and Pekao Bank Hipoteczny. The loans will help fund the company’s most recent development project in Warsaw, Domaniewska Office Hub. The two-building office scheme will add 27,000 sqm of new lettable space. The state investor hopes to have the project completed in the third quarter of 2015.
Włodzimierz Stasiak, the PHN board member responsible for the company’s finances, said that the investment fits the current tenant market. “We’re happy to see the work on this investment is on schedule. We also we see a significant interest among tenants, thanks to the high-quality of the project and its location,” said Stasiak.
