AFI Europe gets EUR 32 mln loan from BCR for AFI Park 2 and AFI Park 3

Real estate investment and development company AFI Europe has signed a loan contract worth EUR 32 million with Banca Comerciala Romana (BCR) to finance the completion of the second and third buildings part of its AFI Park office project in Bucharest, BCR announced today.

Out of the entire sum, EUR 17 million represents an investment loan for AFI Park 2 and the remaining EUR 15 million is a development loan for AFI Park 3.

AFI Europe delivered the second building of its AFI Park office project in April after having pre-leased almost the entire 12,200 sqm GLA to American IT player Electronic Arts. The third building in the project, which will be delivered in December, will add another 12,200 sqm GLA. It is also entirely leased by British IT company Endava and Telus International Europe.

In April, AFI Europe started construction work on AFI Park 4&5, the 4th phase of its project which should be completed by October 2015.  AFI Park 4&5 will be one building with two receptions and a total surface area of 32,000 square meters on 12 floors. When it will be completed, the entire project will offer a GLA of over 60,000 sqm.

AFI Park is located near the AFI Palace Cotroceni shopping mall in Bucharest, AFI Europe’s flagship project in Romania.

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