HB Reavis Raises Funds for Twin City B Nine Months Ahead of Building’s Completion
HB Reavis has been granted a loan totalling 43 million euros by Československá obchodná banka to fund the construction of its TWIN CITY B office building in Bratislava, Slovakia. In March 2016, the second phase of the Twin City scheme will come to market, offering 22,000 square metres of Grade A office space and 1,000 square metres of retail space, over 90 per cent of which has already been pre-let.
The Twin City B building, which has already been leased almost in its entirety to Swiss reinsurance company Swiss Re, is one of three buildings of the initial phase of the Twin City project. Located in Bratislava’s central business district, bordering Mlynské Nivy, Košická, Chalupkova, Továrenská, and Karadžičova streets, the development is highly accessible with excellent transport connections. Over the course of this year and next year, the initial phase of the Twin City project will introduce nearly 65,000 square metres of the most modern offices, retail and services to the market.
“We are very pleased to have the support of Československá obchodná banka as a partner on this project, which upon completion will create one of the most prominent modern office developments in Bratislava. This highly regarded bank’s participation in Twin City’s funding further confirms the project’s quality and potential, as well as the reputation of the entire HB Reavis Group,” said Marián Herman, a board member and CFO of HB Reavis.
“ČSOB Slovensko is pleased to foster and extend its cooperation with HB Reavis by funding this quality office project. This new construction funding builds on our relationship with HB Reavis, having previously worked with them on other financing areas and segments, such as the issue of corporate bonds, and the leasing or refinancing of constructed assets. The strong sponsor and excellent project parameters were the key factors in ČSOB’s decision to grant a loan under specified conditions,” Ľuboš Ondrejko, a senior director in corporate banking and board member of ČSOB, said.
The Twin City buildings conform to the prestigious BREEAM Excellent sustainability certificate, which is quite unique in Slovakia. In practice, this means that the development must meet high demands with regards to waste management, energy and water conservation, office lighting, etc. A high proportion of interior and exterior green areas and overall employee comfort are further key considerations. Meeting the demanding standards also means unbiased and internationally respected confirmation of the building’s excellence.
The Twin City project is divided into twelve phases that HB Reavis will construct progressively. The result will be a modern business district which makes the most of its tenants’ work-life balance, with plentiful green areas for relaxing during work breaks, and ample underground parking for bicycles, in addition to changing and showering facilities for employees’ use.