Romania-focused real estate developer Speedwell said on Monday that it has signed a 27 million euro ($32.7 million) financing agreement with Erste Group Bank for a new class A office building in Bucharest, according to SeeNews.com.
Speedwell expects to deliver the MIRO office building at the end of this year, it said in a press release.
Construction works for the five-storey building began in July and currently, about 65% of the total area has been leased by various companies.
“We are pleased to announce that we have signed a financing agreement with Erste Group Bank, in close cooperation with Banca Comerciala Romana. The success of our projects is also due to the support received from our partners, and the MIRO case is no exception to the rule. It is a partnership that we can all be proud of, especially in this delicate period,” Speedwell CEO and co-founder Didier Balcaen said.
Founded by Belgian entrepreneurs Jan Demeyere and Didier Balcaenin, Speedwell has a significant portfolio of projects in Romania, including Record Park in Cluj-Napoca, Triama Residence and The Ivy in Bucharest, Paltim in Timisoara and Riverside City in Ramnicu-Valcea.