ING Bank arranges EUR 193 million refinancing for TriGranit’s Bonarka City Center
March 6, 2015
ING Bank Śląski S.A. and ING Bank N.V. have jointly signed a EUR 193 million term loan facility to refinance senior debt related to the Bonarka City Center (BCC) shopping mall. The mall has been developed by TriGranit Development Corporation, one of the largest privately owned development corporations in Europe. The loan for Bonarka City Center was closed on 27th February.
Opened in 2009, with a total area of ca 92,500 sqm, BCC is the biggest shopping centre in Krakow, Poland. The shopping centre has long term tenant contracts in place and welcomed more than 13 million visitors in 2014, a 4.4% annual increase in visitor numbers. The success of the transaction demonstrates the project’s potential, the strength of the underlying assets, as well as TriGranit’s solid track record as a developer.
About TriGranit Development Corporation
TriGranit Development Corporation is one of the largest fully integrated regional real estate investment, development and management companies, operating in 9 countries in Central and Eastern Europe and the Balkans. The company’s primary focus is on mixed-use “City Center” projects and offices in strategic urban locations. Beyond its more conventional, commercial development projects, TriGranit is also regarded as one of the pioneers in the field of public private partnership (PPP) projects. During its many decades of operation, the company has completed development projects totalling over 1 million sqm worth approx. EUR 2.5 billion. In the next 2-3 years TGD plans developments of approx. 100,000 sqm of office space and 30,000 sqm of retail space in the region. About ING Real Estate Finance
ING Real Estate Finance is one of the leading commercial real estate financiers with a portfolio of around EUR 24 billion. ING Real Estate Finance is part of ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's more than 53,000 employees offer retail and commercial banking services in over 40 countries.
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