DLA Piper has advised Santander Bank Polska and Helaba, Landesbank Hessen-Thuringen, on their grant of a EUR 47.15 million construction loan to finance the construction of 1060 rental apartments at four Resi4Rent projects in Poznan, Warsaw, and Gdansk. Linklaters advised Resi4Rent on the deal.
Resi4Rent is a joint venture established by Polish developer Echo Investment, which holds 30% of the shares, and a company controlled by an unnamed investor controls the other 70%.
Upon the completion of the project, the loan will be converted into an investment loan of up to EUR 54.8 million.
The DLA Piper team included Partner Mariusz Hyla, Counsel Bartek Palusiak, Senior Associate Katarzyna Waclawek, Associate Jakub Zienkiewicz, and Junior Associate Marta Piotrkowicz.
The Linklaters team included Senior Associate Tomasz Trystula, Managing Associate Joanna Gawlicka, and Associates Zaneta Rogon and Marcin Nowak.