Banca Transilvania lends 80 mln euro to real estate group Anchor

Romania’s Banca Transilvania [BSE:TLV] said it has granted an 80 million euro ($87 million) loan to local real estate company Anchor Grup. Anchor Grup will use the funds to refinance its retail and office segments, Banca Transilvania said in a press releasequoted by SeeNews.com.

“Our partnership with BT is a positive sign for the real estate market, not only for our group, but and for all active investors in the country and for foreign real estate investors interested in Romania, ” Anchor Grup general manager and board member Affan Yildirim said.

Anchor is part of Turkey’s FIBA Group of companies and has been active in real estate development in Eastern Europe since 1997.

Anchor Grup has developed the Bucharest Mall Vitan shopping centre and renovated the Plaza Romania mall in Bucharest. On the residential segment, the group has developed InCity Residences, while on the office segment it has developed the mixed-use Anchor Plaza project.

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