GTC Poland and one of the lenders jointly own the Galeria Mokotow Mall.
Kardan NV (TASE: KRNV;AEX:KARD) unit Global Trade Centre Poland SA (WSE:GTC) (GTC Poland) has obtained a €205 million loan from a syndicate led by Unibail Rodamco SE, which will partly be used to finance Galeria Mokotow Mall in Warsaw. GTC Poland and Unibail Rodamco own the mall in equal shares.
Kardan said that this was one of the largest real estate financing loans in Central Europe. Unibail Rodamco's partners in the syndicate were German banks Berlin-Hannoversche Hypotheken Bank AG and Westdeutsche ImmobilienBank AG. The five-year loan with a two-year option to extend bears Euribor plus 2.25%. The refinancing was based on a value of €378 million for the 62,500-square meter Galeria Mokotow Mall.
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2009
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