PRESS RELEASE
W
ARSAW
,
DECEMBER 27,
2012
FENIKS
as the headquarters of Bank Ochrony Środowiska Group
The Bank Ochrony Środowiska Group has signed a long-term lease agreement for 100% of
the space in FENIKS office building in Wola district in Warsaw. The building is a joint
project of the developer Europlan and the fund that belongs to the Griffin Group and that
financed the project using the mezzanine formula.
FENIKS,
an A-class office and service building with the total area of 10,000 square meters was
erected at the intersection of Żelazna and Sienna streets, in the so-called closed Wola district. It took
the place after the former “Feniks” Shopping Center. The execution of the complex project began in
2008 and in Decemeber 2012 the building received an occupancy permit. The investor is the company
Europlan which specializes in acquisitions and restructuring of enterprises as well as in carrying out
real estate projects in Central and Eastern Europe.
“Warsaw still needs top class office space in Śródmieście and its vicinity. We are very glad that the
construction of FENIKS has been finalized and that we have managed to build an attractive and
modern building,” said Monika Rogucka, Lease Director at Europlan.
Feniks
was also the first project in Poland executed using mezzanine financing. It allows an
investor to obtain additional funds besides a bank credit that improve the profitability of the
venture. The borrower, in return for the loan, receives interest payable at the end of the credit
period and a share in the profits generated by the project. He bears a greater risk than the
banks in the favor of which mortgage is established, which serves as credit collateral.
“The success of
FENIKSA,
i.e. signing a lease agreement with such a prestigious lessor for 12
years at once is an exceptional achievement on the Polish market, reserved for the best
investment. We feel its co-authors. Griffin
Group
contributed not only financing to the project but
also added value in the form of its experience on the real estate market,” sai
Przemysław
Krych,
CEO
of Griffin
Group.
At
FENIKSIE subjects that make up the Bank Ochrony Środowiska Group will be the sole lessor of
seven office floors and an underground garage.