Loan for development of A4 Business Park

Echo Investment and BNP Paribas Bank Polska signed a loan agreement with a value of over EUR 30 million, on the basis of which the bank shall finance realization of the A4 Business Park.

The acquired funds – EUR 29 million investment loan and PLN 5 million VAT loan – will be used to carry out two stages of the A-class office complex, which is being built on Francuska St.

“We are glad that BNP Paribas Bank Polska joined the group of partners which finance our investment projects while the parameters of the loan indicate a continuous improvement on the cash market in Poland. We count on A4 Business Park being the first step to successful cooperation between our capital groups and we hope for more loans for our commercial projects” – says Grzegorz Iwański, director of the Funding Department at Echo Investment.

A4 Business Park will consist of three buildings. The first one has been delivered and commissioned in March. IBM has fully lease the almost 9 000 sq. meters facility and already moved in to its new offices.

The second, 10-storey building, is being under construction at present and the delivery is expected in the last quarter of 2014. Remax Construct is a prime contractor of the stage.

Echo Investment has not yet disclosed when the construction work on the last, third building would be kicked-off.