Forty Management accesses a syndicated loan worth 65 million euro for Central District Lagoon City project
Forty Management approved the contracting of a syndicated loan worth 65 million euro. The company will soon access the funding offered by CEC (syndicate leader), Alpha Bank and First Bank to the company that will develop Lagoon City Bucharest, owned 100% by Forty Management.
It is one of the largest syndicated loans a Romanian real estate developer is accessing on the real estate market in the past few years.
Forty Management & Investments will contract a credit loan amounting up to 55 million euro for the financing of Central District Lagoon City, a project consisting in a 5 stars hotel with 314 rooms, an office building with a renting surface of 8.173 sqm, 272 apartments and 7.840 sqm commercial spaces surrounding a lagoon with a surface of 10.600 sqm with 3.900 sqm white sand beaches, and a credit facility worth 10 million euro for the partial financing of the VAT during the construction stage.Read entire article