Iulius granted the biggest ever real estate loan

Romanian developer Iulius has obtained a EUR 410 mln real estate loan – the largest ever granted in the country’s history.

Iulius Company, which develops and operates mixed-use urban regeneration projects and shopping centers in Romania, together with its partners Atterbury Europe, have recently signed a EUR 410 mln financing agreement for the nationwide network of Iulius Mall regional shopping centers in Iași, Cluj- Napoca, Suceava and Timișoara. The syndicated loan was granted by Erste Group Bank, Banca Comercială Română, Raiffeisenlandesbank Niederösterreich-Wien, OTP Bank Nyrt and OTP Bank Romania. It will support the long-term investment plans of the developer in the retail and entertainment segment.

This is a landmark transaction for the Romanian real estate market by virtue of its volume and characteristics, which offer a viable alternative to the capital market. On the one hand, it confirms the financing parties’ confidence in the projects of Iulius Company, which have grown into sustainable and recognized regional centers of attraction in terms of shopping, business and leisure. On the other hand, it confirms our loyalty to and trust in banks as business partners, which are essential values ​​in our organization. The new loan is geared towards implementing the corporate goals in the development strategy of the company.
Marius Perșenea, the COO of Iulius Company

As of 2017, the Iulius Mall regional shopping center network in Iași, Suceava, Cluj-Napoca and Timișoara (an integral part of the Iulius Town Timișoara mixed-use project) has been owned by Iulius and Atterbury Europe in a 50-50 joint venture. partnership.

Iulius is currently developing the 60,000 sqm Palas Campus Iași in a EUR 120 mln investment, as well as its second Family Market convenience shopping center location in the Bucium district of Iași in an EUR 11 mln investment (5,000 sqm). The company is also expanding Iulius Mall Suceava by an additional 14,000 sqm, an investment of EUR 14 mln, to bring its total area up to 65,000 sqm. It is also preparing the app. EUR 500 mln revitalization of the Carbochim plant in Cluj-Napoca into a mixed-use project combining retail, office, residential, cultural, and entertainment functions. Its retail portfolio now comprises 310,000 sqm across all its developments.

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