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EUR 93 M loan for the development of Swan Office Park

A consortium of banks headed by Investkredit Bank granted an over EUR 92.7 M loan for the development and funding of the two stages of the Swan Office Park project, a modern, A-class office space project in north-eastern Bucharest, the international law firm Salans announced, which assisted the credit institutions.

The project includes five A-class office buildings with a combined area of approx. 50,000 sq m. Swan Office Park is developed by the British investment fund Chayton capital and developer ARCA East Invest, and is located in the Pipera area, on Soseaua Nordului. The consortium also included Bank Austria Creditanstalt AG, a subsidiary of UniCredit Group. Chayton Duna Property Fund is a real estate investment fund established by former partners and managers with Goldman Sachs, CREDO and Knight Frank. On April 20, 2007 the fund was closed at EUR 114 M. ARCA East Invest is a relatively new company in the Bucharest market, which brings together local and international real estate development experts, who also hold ARCA West Invest GmbH, Munich. ARCA East Invest also partners with Chayton Capital to develop its business in Constanta. Sursa: http://www.nineoclock.ro

Tags: office development

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