Pekao S.A. to finance Hillwood investment in Warsaw

Hillwood has signed a loan agreement with Pekao S.A bank for the implementation of a project consisting of a warehouse and office building in Warsaw at Mineralna St. with a total area of over 13,600 sqm. The financing amount is approximately 22.3 million euros. 

A modern warehouse and office building with an area of 5,700 sqm, as well as a separate class A office building with an area of nearly 8,000 sqm are being built in a build-to-suit (BTS) system, i.e., to order and according to the client's guidelines. This is the first office building developed by Hillwood in Poland.

The agreement with the bank allows for the refinancing of a portion of the land purchase costs even before the start of cubic construction works, which are planned for the beginning of 2021.

"We are very pleased with the cooperation with Bank Pekao S.A on yet another project. We are glad that the bank shares our vision and operating philosophy, especially since the project at Mineralna St. in Warsaw is a combination of a tailor-made warehouse building as well as a large, modern office building" – says Hubert Michalak, President of the Management Board of Hillwood Polska.

"The Hillwood investment at Mineralna St. in Warsaw combines an excellent location, a unique design, and an experienced developer. This is the eighth project of the Hillwood Group financed by Pekao since the beginning of the developer's operations in Poland. We believe in the further dynamic development of the Polish warehouse market. We want to support the development of clients operating in this sector, even in times of global economic slowdown" – commented on the transaction Dieter Lobnig, Director of the Investment Banking and Commercial Real Estate Financing Department at Bank Pekao S.A.