News/Real Estate Finance

Deutsche Hypo participates in the refinancing of Varso Place

Deutsche Hypo – NORD/LB Real Estate Finance has participated in the refinancing of the Varso Place complex in Warsaw. The consortium – consisting of Santander Bank Polska S.A., Landesbank Hessen Thüringen, Berlin Hyp AG, Bank Pekao S.A. and Deutsche Hypo – NORD/LB Real Estate Finance – has made a total of EUR 475 million available to  the international commercial real estate developer HB Reavis. Of this, Deutsche Hypo – NORD/LB Real Estate Finance provided EUR 40 million. The term of the financing is five and a half years.

Located near Warsaw’s main train station, Varso Place is a mixed-use ensemble with offices, a hotel, retail space and restaurants, as well as a health and fitness center. The complex, which covers a total of 144,000 square meters, consists of three buildings: In addition to Varso 1 and Varso 2, there is an office tower designed by the internationally renowned architectural studio Foster + Partners, the so-called Varso Tower. At 310 meters high, it is currently the tallest building in the European Union. The tower has 53 floors and two viewing platforms. The highest garden in Warsaw is also located at 206 meters. Varso Place is BREEAM (outstanding) as well as WELL (gold) certified.

“We are convinced about the success of the Varso Place project with its central location, architectural quality and consideration of ESG criteria,” says Beata Latoszek, Head of the Warsaw Representative Office of Deutsche Hypo – NORD/LB Real Estate Finance. “We are very pleased to be able to participate in this new urban landmark for a good five years and to further expand our market presence in Poland.”

An image of the property is available for download. Please quote “HB Reavis” as the source.