Poland Financing for Chmielna 89

The loan was provided by Santander who acted as underwriter, lender and agent for the loan in partnership with Bank Pekao. Completed in 2020, Chmielna 89 comprises over 25,000 sqm gla. The building is more than 95 pct occupied by one of Poland’s largest financial institutions on a long-term lease. The is BREEAM certified with a rating of ‘Excellent’.

Since its completion in 2020, Chmielna 89 has firmly established itself as one of the leading assets in Warsaw’s office market. This refinancing, with two blue-chip lenders that are both new to the project, is a testament to the unique quality of this property and the income it generates and highlights the confidence of the debt markets in best-in-class Polish offices.
Andrew Brown, vice president at Madison International Realty

Greenberg Traurig acted as legal advisor to the Madison-Cavatina joint venture. CMS acted as legal advisor, CBRE acted as valuer, and Gleeds acted as technical advisor to the lenders.