Ghelamco has obtained financing for The Bridge office complex in the center of Warsaw. The construction-and-investment loan was granted to the developer by Santander Bank Polska, which will also be a strategic tenant in the skyscraper.
According to its terms, Ghelamco The Bridge, a company belonging to the Ghelamco capital group, will be granted a construction loan of almost EUR 181 million to finance or refinance the construction costs, a loan for VAT financing in an amount not exceeding PLN 35 million, and an investment loan (granted on condition of conversion of the construction loan) in the amount of almost EUR 185 million.
“The obtained financing will allow us to complete the construction of The Bridge on time, but also to maintain the highest level of finish and assumed solutions,” said Jaroslaw Zagorski, Managing Director of Ghelamco Poland. “This will be the most technologically advanced and ecologically sustainable project in the history of our company. I believe that, like Warsaw Spire, The Bridge will become a benchmark for the Polish office market for years to come and will set the bar high. Our point of view is shared by our partners, and this is confirmed by the agreements we have recently signed, which are extremely important for our company. Santander Bank Polska has not only become our key tenant, but has also provided a loan, thanks to which we can commit to delivering an office building that sets a new standard to the market.”
“We would like to congratulate Ghelamco on their vision of creating a fantastic office space in Warsaw, which is a perfect combination of old and modern architecture,” aid sBrendan Long, Head of Property, Santander Bank Polska. “Santander Bank Polska is proud to support Ghelamco with its market-leading ESG and ecological credentials, and will continue to support all such projects that bring benefits to Poland.”
The Bridge was designed by acclaimed Dutch architectural studio UNStudio in cooperation with the Polish-Belgian Architecture Studio PROJEKT. Construction of the building is expected to conclude in the first quarter of 2025.
In September of this year Santander Bank Polska itself committed to becoming a strategic tenant of the Bridge, signing a lease for 24,500 square-meters of space, including nearly 21 thousand square meters of usable area. (As reported by CEE Real Estate Matters on September 30, 2024).
