10/1/2009

J&T Real Estate successful in refinancing TOWER 115.

J&T Real Estate obtained new funds for the TOWER 115 project from the German bank Berlin Hyp, specialized in the real estate finance. On 25/09/2009 a contract for a medium-term loan of EUR 46,000,000 mil was signed. “In Berlin Hyp bank, we found a very strong, flexible and professional partner“, said the executive director of J&T Real Estate Pavel Pelikan.

It is the highest loan extended this year for financing of a commercial real estate in Slovakia. “We are happy that J&T Real Estate continues successfully in financing its projects as an independent holding”, added Pavel Pelikan.

Jan Bettink, chairman of the Board of Directors of Berlin Hyp, emphasized: “We are proud of making this financing transaction, while fulfilling the client’s requirements and complying with the set schedule. It again confirms the strong position of Berlin Hyp and Landesbank Berlin AG even on unusual conditions of financial markets.”

TOWER 115 has ranked among the most important office projects in Bratislava. It offers more than 38,000 m2 of leasable area, and currently it is fully occupied by highly creditworthy tenants.

J&T Real Estate ranks as the leader in the real estate market in Slovakia. The flagship of the developer is River Park at the final stage of completion. The company reconstructed successfully, for example, the Grand Hotel Kempinski High Tatras, Crowne Plaza, and DoubleTree by Hilton in Kosice, as well as WESTEND BUSINESS PARK, residential project Karloveske rameno, subcontractor parks near PSA Peugeot Citroen plant in Trnava and Volkswagen plant in Bratislava.

Berlin Hyp is a part of the Real Estate Finance Division of Landesbank Berlin and one of the largest providers of the real estate finance in Germany. Berlin Hyp focuses its business activities on investors, residential developers, real estate funds, capital investors and selected building and developer firms.

www.tower115.sk
www.jtrealestate.sk
www.berlinhyp.de
www.lbb.de