POLAND EUR 65.6 mln loan for Brain Park

Under the agreement, the banks have granted the developer a construction and investment loan of EUR 65.6 mln and a VAT loan of PLN 9 million. The loan is due to expire on June 30th, 2026.

The substantial interest we have received from potential tenants in this project confirms the enormous business potential of Kraków, but also Echo Investment as a brand as well as the ideal location and quality of the office buildings.
Grzegorz Iwański, the director of the financing department at Echo Investment

Brain Park is under development between al. Pokoju and ul. Fabryczna in Grzegórzki district, just east of the city centre. It will comprise three buildings with a total of 42,400 sqm of office space. Charging stations will be provided for bicycles, scooters and electric cars, as well as bicycle stands and changing rooms and showers for cyclists. The complex will also feature a courtyard with places to table tennis or chess and an open-air workout zone. The first two buildings of Brain Park should be ready to accept tenants at the turn of 2022 and 2023, and these will include, among others, PepsiCo GBS Kraków.

Both financial institutions that are providing the loan are long-term lending partners of Echo Investment. PKO Bank Polski has provided finance for, among others, the construction of the office buildings in the Moje Miejsce project in Warsaw and for MidPoint 71 in Wrocław, while Bank Pekao SA has contributed to financing the construction of the Biura przy Willi and Biura przy Warzelni office buildings in the Browary Warszawskie complex in Warsaw and continues to finance the development of the multifunctional Fuzja project in Łódź and the Face2Face office complex in Katowice.