The real estate developer completed in 2014 the office building Green Gate, situated near Chirigiu Square in Bucharest, following EUR 57.5 million investment. The project was financed with EUR 39 million by the Czech bank PPF Bank.
The company’s shareholder decided on 12th of May this year to pay back part of a credit line of EUR 15.6 million, opened in 2007, which had EUR 14.6 million debt. Therefore, Green Gate Development chose to increase the company’s capital with EUR 784,150, adding approx. EUR 9 million issue prime.
The office building has a rentable area of 31,000 sq. m and an occupancy rate of more than 80 pct. At the opening of the project, the developer’s representatives have estimated the net operational revenue at nearly EUR 5.5 million in the first year of 100 pct occupancy. (source: capital.ro)