Banca Transilvania and OTP Bank Romania to finance VOX Technology Park in Timisoara

Banca Transilvania and OTP Bank Romania will provide finance for VOX Technology Park, the office project developed by Werk Property Group and that will open its doors in Timisoara at the end of 2017.

The finance consists of EUR 16.8 million in development and RON 15.5 million in VAT facility. Banca Transilvania will be the arranger, financing bank, facility and guarantees agent, while OTP Bank Romania will act as a financing bank.

The banking syndicate is assisted by law firm Clifford Chance Badea.

Vox Technology Park is a project with a leasable area of 26,000 square meters, out of which approximately 50 percent is already rented, mainly to IT&C companies.

The access in Vox Technology Park is made through biometric identification, based on physical features. The office building will be certified BREEAM “Excellent”.