Globe Trade Centre (GTC) is going to use the acquired funding to refinance the debt and to finalise Pascal – the office project / the office project Pascal. The building is a part of a complex Centrum Biurowe Korowa, Cracow. The 45 m credit was granted by Bank Zachodni WBK, which belongs to Grupa Santander.
Signing the contract with BZ WBK on preferential conditions confirms the high quality of GTC’s assets. The loan will be used to refinance existing buildings as well as for improving GDC’s current financial condition. Acquired funds is also going to be used for completion of the Pascal office building of which construction begun this year after we signed lease contracts with the first lessee and secured availability of the required funds – commented Erez Boniel, Board Member of GTC.
GDC is the leader in the commercial property market with a long-term and strong presence in Poland. The credit agreement with BZ WBK confirms company’s position as the key developer and it may allow GTC to use the expected economic recovery in Poland. We are very pleased with the partnership with GTC and possibility of the joint implementation of company’s objectives – added Brendan Long, Commercial Properties Department Director BZ WBK.
Pascal is a seven-storey office building offering 5500 sq. m. of office space. The building is going to be completed in April 2014. IBM, which is going to move in in the beginning of the second quarter of the next year, is going to be the main tenant. Centrum Biurowe Korona, after completion of Pascal, is going to have 37 000 sq. m. of surface. The complex also includes Newton, Edison and Galileo, which induced/enticed such companies Hitachi, Deloitte, KMPG and State Street.