The mall’s development on a rented surface of 80,000 sqm was financed in 2008 with EUR 234 million from Hypo Real Estate. To refinance the credit, AFI has convinced Erste Group, Raiffeisen Bank International and Raiffeisen Bnak Romania to join Pfandriefbank in a consortium, and the final contract will be signed in the following weeks.
“We are in talks with Cotroceni Park’s representatives and we are interested to intensify our collaboration with them” according to Erste.
Afi Cotroceni is valued at EUR 375 million and a had an operational income of EUR 28.7 million last year. (Source: business-review.eu)