Von der Heyden Group secured financing for its most recent hotel project in Gdańsk from Alior Bank. The value of the transaction was not disclosed. Set to go up on Długi Targ street, IBB Blue Hotel Gdańsk is scheduled for completion in the second quarter of 2017. Worth €11m, the project involves the renovation of three tenement houses, located in the city’s downtown area. Von der Heyden Group acquired the properties in 2006 from Bank Millenium. “It took us some time to launch the project due to the financial crisis, which raised uncertainty among lenders about financing hotel projects,” said Sven von der Heyden, Von der Heyden Group’s chairman. In the meantime, the company has been focusing on its projects in Poznań and Monachium.
