DLA Piper has advised Capital Park on obtaining a EUR 159.3 million loan from the European Investment Bank and Pekao SA for the implementation of the "ArtN" project. CMS advised the lenders.
The EIB provided EUR 60 million and Pekao allocated EUR 99.3 million for the project.
According to DLA Piper and CMS, this is the first project finance transaction with a real estate investor signed by the EIB in Poland.
ArtN is a project to revitalize the former Norblin Factory in Warsaw, involving the revitalization of two hectares of land in Western Warsaw, where the Norblin Factory, Buch Brothers, and T. Werner operated. As part of the project, an open space will be created in industrial interiors. The complex will include ten restored historic buildings and about 50 production machines of the former factory, DLA Piper reports.
Bank Pekao, which is based in Warsaw has since 1999 been part of the UniCredit group. The bank was founded in 1929 by Poland's Ministry of Treasury as a national bank, mainly to provide financial services to Poles living abroad.
Capital Park Group is an investor and developer that has been operating on the real estate market in Poland for over ten years, specializing in searching for and taking advantage of market opportunities. The company has been listed on the Warsaw Stock Exchange since 2013.
The DLA Piper team consisted of Partner Mariusz Hyla and Counsel Bartlomiej Palusiak.
CMS's team consisted of Partner Michal Mezykowski, Lawyer Jakub Przybylek, and Associates Krzystof Mrozik and Karolina Zajac.