23:44 2 December 2021
Trei borrows €27.5 mln from Pekao for the construction of retail parks in Poland
Trei Real Estate, an international developer and owner of residential and commercial real estate, has signed a EUR 27.5 million loan agreement with Pekao. The loan is secured by seven Vendo Parks from Trei's portfolio located in Poland. The obtained debt capital will be allocated to the company's further expansion on the Vistula River, taking into account residential investments and the construction of Vendo Parks. This has been the developer's first cooperation with a Polish bank so far and, at the same time, another step since 2020 by Trea, aimed at strengthening the development of the retail park network in our country.
"The construction costs of our Vendo Parks are usually financed with equity. In line with our financing strategy, we successively refinance these costs in a package once a year. An additional effect of cooperation with Pekao is a constant increase in our financial leverage ratio," Matthias Schultz, CFO at Trei Real Estate, said.
Trei's portfolio currently includes 38 Vendo Parks, 28 of which were built in Poland. The developer has another 16 locations for the future expansion of the Vendo Park network in our country.
(WBJ)
