EPP and Echo Secure €145.2m Loan for Galeria Mlociny Shopping Centre, Classified under EU Taxonomy

EPP Poland and Echo Investment have announced the successful securing of a €145.2 million loan for the Galeria Mlociny shopping centre in Warsaw. The five-year financing, classified as meeting the EU Taxonomy, marks a significant milestone in sustainable real estate investment in Poland.

Key Details: The financing, arranged by Erste Bank Group AG, Rand Merchant Bank (RMB), and Santander Bank Polska, underscores the resilience and attractiveness of Galeria Mlociny as a premier retail destination. The shopping centre, jointly owned by EPP (70% stake) and Echo Investment (30% stake), aligns with the environmental objectives of the EU Taxonomy, particularly focusing on climate change adaptation.

Insights from Stakeholders: Jacek Baginski, CFO at EPP, emphasizes the importance of this financing in revitalizing the retail market post-pandemic. He highlights the significance of Galeria Mlociny as a green asset, meeting the stringent criteria of the EU Taxonomy while contributing to climate adaptation efforts.

Grzegorz Iwanski, Financing Director at Echo Investment, underscores the centre’s operational excellence and sustainability features, which have earned the confidence of lenders. He views this successful refinancing as a testament to Galeria Mlociny’s appeal to both consumers and investors seeking sustainable real estate opportunities.

Environmental Compliance and Operational Excellence: Galeria Mlociny stands out as one of Warsaw’s premier shopping destinations, known for its environmental sustainability and energy efficiency. The centre holds the BREEAM In-Use certificate at the Excellent level, demonstrating its commitment to environmental stewardship and climate resilience.

Legal Representation: Dentons provided legal advisory services for the lenders, ensuring a smooth transaction process. Clifford Chance represented the borrower, further facilitating the successful conclusion of the refinancing deal.

The €145.2 million loan secured for Galeria Mlociny represents a significant milestone in sustainable real estate financing in Poland. As one of the leading retail destinations in Warsaw, Galeria Mlociny continues to set a benchmark for environmental compliance and operational excellence, attracting both consumers and investors alike.

Kiri Blakeley
Kiri Blakeley
Articles: 31

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *