The 10.1-million-euro loan Speedwell received from BRD Société Générale Group, for the development of the residential component of Record Park in Cluj-Napoca, has been fully repaid before the maturity date, following the units’ successful sale, according to TheDiplomat.ro.
Speedwell and BRD Société Générale Group have joined hands in 2018, by signing the financing agreement for Record Residential, part of Record Park, developed on a 17,000 sqm plot and ideally located in Cluj city center. BRD granted a loan of 22 million EURO to finance Record Park, the first mixed-use development and urban regeneration project in Cluj, consisting of 236 apartments and 15.000 sqm of A class office and retail spaces, all anchored by a historical building that has been preserved and transformed into a space for arts, technology, and co-working spaces.
Under Speedwell management, construction works for the project have been successfully completed in the beginning of 2021. Following the successful delivery of most of the apartments, Speedwell has fully repaid 10.1-million-euro loan obtained for the residential component of this project.
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