A consortium with Bank Pekao, Bank Gospodarstwa Krajowego and Bank BNP Paribas granted over PLN 248 million for a construction and investment loan and PLN 15 million for VAT for the construction of five more residential projects with a subscription to Resi4Rent, the company said. The financed projects will include a total of over 1,400 premises in Warsaw and Kraków. Three projects are already under construction, and two will start in the coming months.
“Our successes in the construction and lease of projects so far have translated into the trust of reputable banks, for which we are grateful to our banking partners. This confirms the effectiveness of the strategy and business model of Resi4Rent. This success would not be possible without using the international experience of our main owner, professional development services. Echo Investment, which is also a co-owner of Resi4Rent, and the professionalism of the team responsible for managing the construction process, renting and managing premises. The extensive support in building the Resi4Rent platform is also invaluable, which we receive every day from one of the most experienced entities operating on the real estate market,” said Griffin Real Estate CFO Rafał Ryba.
Resi4Rent was established in 2018. It is a joint venture of Echo Investment, which holds 30% of shares, and one of the leading international fund management companies, which controls 70%.
Source: Resi4Rent and ISBnews
