Orco has agreement with Pekao on Złota 44 debt
Orco Property Group (OPG) has signed an agreement with Bank Pekao to acquire loan receivables and collateral from Orco, its subsidiary responsible for the Złota 44 residential project in Warsaw.
In early April Bank Pekao had demanded the repayment of loans worth PLN 189.7 million, taken for the construction of Złota 44, within the next 30 days. OPG had earlier said it was planning to sell the project.
Złota 44 is a 192-meter tall, luxury apartment building under construction in the very center of Warsaw.
