Cavatina Holding S.A., one of Poland’s leading development groups, on September 23rd this year entered into a loan agreement for EUR 270 million with a consortium of international banks: Erste Group Bank AG (Vienna), Berlin Hyp (a member of the Landesbank Baden-Württemberg group, based in Stuttgart) and Raiffeisenlandesbank Niederösterreich-Wien AG (Vienna) (jointly, the “Lenders”).
To the best of our knowledge, this agreement represents the largest transaction of its kind in the history of refinancing office assets on Poland’s regional markets. By consolidating our financing in this segment, we are able to optimise its structure and reduce its costs. This provides us with a much greater degree of comfort in conducting our current business and pursuing further growth through new, attractive projects. It also serves as clear confirmation that we have a modern, well-commercialised and appealing office portfolio. The agreement reflects the trust of the financing institutions in our business model, strategy, and financing structure",
said Daniel Draga, President of the Management Board of Cavatina Group.
Cavatina Holding S.A. is one of the largest Polish development groups. It delivers projects in Poland’s biggest cities, including Warsaw, Kraków, Łódź, Wrocław, Gdańsk and Katowice, having established itself as one of the country’s leading office developers.
The Group’s strategic goal is dynamic growth in the residential development segment, targeting direct buyers, and thereby achieving a strong position as one of Poland’s leading residential developers.
Projects delivered by the Group stand out for their unique architecture – recognised in both Polish and international competitions – as well as their high standard of finishing. Cavatina Holding also places strong emphasis on sustainable construction.
The Group continues to deliver selected office projects and commercialise its office portfolio. In addition, it is currently developing three residential projects with a total area of nearly 25,000 sq m of usable floor space (PUM), which will provide the market with more than 650 flats. A further two projects are at the preparation stage, with a combined area of at least 47,000 sq m of PUM.
