Bank Pekao to finance further Hillwood investments

Hillwood has signed a credit agreement with Bank Pekao S.A. for 40.7 million euros for the construction of a logistics park in Bydgoszcz. In the last year, the bank has provided credit for the financing of five Hillwood investments: in Wrocław, Warsaw, Góra Kalwaria, Rokitno, and now in Bydgoszcz, for a total of 128 million euros.

"The market for industrial and warehouse space in Poland is exceptionally active, and clients want logistics space to be delivered as quickly as possible. We appreciate even more the cooperation with banks that offer a fast track for obtaining credit approval and short negotiations of credit documentation. A bank that certainly meets these expectations is Pekao. Taking into account the scale of the investments we are conducting in Poland, a high credit limit is also extremely important to us, which allows us to finance both projects of different scales and investments carried out in multiple stages." – says Hubert Michalak, CEO of Hillwood Polska.

"We are pleased that we can support Hillwood in the implementation of another project in Poland. This is the 15th Hillwood project in total financed by Pekao. We hope that in the coming years we will have the pleasure of supporting Hillwood in the implementation of further projects, which are always characterized by excellent location and commercialization" – says Łukasz Białecki, Director of the Commercial Real Estate Financing Office at Bank Pekao. – "The warehouse market in Poland has been experiencing very rapid growth for a long time, which was additionally strengthened by the development of e-commerce during the pandemic and should be a beneficiary of changes in global logistics chains after it. Pekao has been supporting the development of modern and environmentally friendly warehouses in Poland for years."

"The warehouse sector and modern logistics are areas that should be resistant to current market turmoil, and even be their beneficiaries. We believe that the increase in inventories held by companies, caused by placing greater emphasis on risks related to the continuity of the global supply chain, will contribute to the further development of the warehouse market in Poland and to the growth of its importance on the logistics map of Europe. We are glad that we are an active participant in it" – adds Piotr Kwadrans, Director at Bank Pekao.