A syndicate of banks comprised of Ceska Sporitelna, ČSOB, HYPO Investmentbank, and KBC Bank has provided a syndicated loan of €98,475,000 (approximately CZK2.58 billion) for the new Karolina Shopping Center Development of Multi Development. ČSOB is the coordinating bank and security agent, while Ceska Sporitelna is the facility agent.

The loan will be due for payment five years from the signing of the agreement, and the security conditions constitute a part of the contractual stipulations between the syndicate and the development company. “We very much value the helpful approach of all of the banks involved. Their interest and support confirms the exceptionality of this particular project as well as the fact that on the development market there is still room for the implementation of high-quality projects, in spite of the recent economic situation,” noted Luboš Kočí, CEO of Multi Development Czech Republic.

The construction of Ostrava’s New Karolina, part of which is also the Shopping & Leisure Centre, is one of the largest inner-city development projects in the country and marks one of Central Europe’s largest inner-city revitalisations. The tenants who will use the premises once they are completed include major names such as Ahold, Palace Cinemas, C&A, Intersport, Datart, Marks & Spencer and New Yorker.

See also:

Back to Main News Page

EuropaProperty’s Back to Business Investment Forum to be opened by Warsaw’s Vice President

A new beginning for Warsaw’s Próżna Street

Dvintsev Business Center welcomes United Bakers