CPI Property Group secures EUR 100 mln Financing for Sun Plaza shopping center

CPI Property Group announces that its subsidiary, CPI Europe AG, has successfully closed a new EUR 100 million financing for Sun Plaza shopping center. The financing was in the form of a club-deal from OTP Bank and ING Bank Romania, with each bank participating with equal commitments. The transaction also marks the beginning of a new cooperative relationship between CPIPG and ING Bank.

Inaugurated in 2010, Sun Plaza brings together 170 retail, HoReCa and entertainment concepts with a gross leasable area of ​​approximately 81,000 sq m. The center benefits from direct access to the Piața Sudului metro station and is BREEAM Excellent certified.

“This transaction demonstrates the continued confidence of the financiers in the premium retail assets in the CEE region. We appreciate the professional and constructive cooperation of OTP Bank and ING throughout the entire process and are particularly pleased that ING becomes a new partner of the Group,” said  Marketa Vecerova, Group Head of Real Estate Financing at CPI Property Group

Dentons acted as legal advisor to the financiers in the transaction.