HB Reavis Investments Secures Loan Extension from Erste Group and Raiffeisen Bank, Proving that Agora Budapest is a top-tier Office Building
HB Reavis Investments Group have successfully negotiated a 5-year extension of an investment loan with Erste Group and Raiffeisen Bank for the total amount of EUR 160 million for Agora Budapest, an inspiring business and lifestyle hub with premium category offices.
The original loan was granted five years ago, and was recognised as one of the most significant transactions on the market. Prolongation of the loan shows the confidence banks have in the developer’s commitment to delivering outstanding projects.
The loan will soon be classified as green
Agora Budapest is a project consisting of two buildings: Agora Hub and Agora Tower. It is a place where an exceptional working experience meets shopping, dining, and relaxing in lush environments. The focus on sustainability goes hand in hand with the group’s long-term strategy. At the moment, both buildings are undergoing the BREEAM In-Use 2015 Excellent certification process. Once achieved, the loan will be classified as green under Hungarian National Bank regulations.
“The extension of the loan is a testament to the trust placed in the Agora project and our high-end office spaces in Budapest. The financing banks have supported us since the project’s early days, and we are grateful for their continued trust. Their support evolves alongside our commitment to ESG principles and our goal of becoming a more responsible workspace provider.” (Tomáš Krajčír, CFO, HB Reavis Investments)
Confirmation of a long-term value
The loan extension aligns with Erste Group’s and Raiffeisen Bank’s broader investment strategy of supporting sustainable, high-quality assets to generate long-term returns. Agora Budapest proved to have strong resilience, even with dynamic market shifts over the past years and, therefore, secured an established position in the bank’s portfolio.
“It is a privilege to continue financing the exquisite Agora Budapest project and tie closer our cooperation with HB Reavis. The deal is special because it began when the project was yet on the drawing boards. The building complex has since become an icon of Budapest real estate, a great inspiration for all colleagues and partners involved. We look forward to this new chapter of our successful partnership.” (Tamás Deák, Head of Commercial Real Estate, Erste Bank Hungary)
“At Raiffeisen Bank, we deeply value our three decade-long partnership with HB Reavis, and are committed to financing more Sustainable Real Estate projects in the future to foster a greener and more sustainable world, in line with Raiffeisen Bank’s long-term Sustainability Strategy.” (Ferenc Kementzey, Deputy CEO, Raiffeisen Bank Zrt.)
Like-minded brands coming together
Agora Budapest aspires to be a hub for strong brands, supporting them in achieving their long-term sustainability and productivity goals. With an occupancy rate nearing 95%, the project clearly holds unique appeal for leading brands. The extended loan will further enhance their experience while also contributing to the city’s urban development.