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Aareal Bank Closes Financing Deal, Provides EUR 312.5 Mln Senior Loan To Ghelamco Group

Aareal Bank AG (AAALF.PK) Thursday announced the closing of a financing agreement, providing a senior loan of 312.5 million euros to real estate investor and developer Ghelamco Group.

The bank provides the loan as the sole agent, arranger and lender to the family-owned real estate group, which is mainly active in the office, residential, retail, leisure and logistics markets.

Ghelamco will use the loan to refinance a newly constructed development located in the western part of the dynamic business district in Poland's capital. The project comprises modern, high-quality and high-rise buildings in a multi-functional complex, known as "The Warsaw HUB":

In the complex, there are two 130-meter office buildings, together with an 86-meter hotel tower connected by a common podium.

The 118,000 sqm of floor space includes top-class office and co-working spaces, a conference centre, the Crowne Plaza and Holiday Inn Express hotels, retail and service premises and a fitness club.

Ghelamco was advised by Deloitte Legal. Aareal Bank was advised by CMS Cameron McKenna on legal matters, and Savills on valuation.

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