PHN with €40 million financing for Domaniewska Office Hub

Real estate holding PHN has signed a loan agreement with Bank Pekao and Pekao Bank Hipoteczny which will provide financing for its Domaniewska Office Hub office project, currently at early stages of construction in Warsaw’s southern Mokotów district. The loan includes PLN 67.94 million and €22.94 million, as well as an additional renewable credit line of PLN 19.4 million for VAT payments. “Obtaining the financing is a significant step getting us closer to a timely completion of the investment and its delivery to tenants,” said Włodzimierz Stasiak, member of PHN’s board. The Domaniewska Office Hub will consist of two class A office buildings, with a total GLA od 27,000 sqm. It is scheduled for completion in Q2/Q3 2015.