Panattoni granted €64m financing for landmark Polish projects

Industrial real estate developer Panattoni has been granted a €64 mln loan by Bank Gospodarstwa Krajowego for further projects in Poland.

The financing is to be used to develop a strategic complex for Poczta Polska in Radzymin as well as two buildings within Panattoni Park Grudziadz.

In recent years, Panattoni's development activity in the Kujawsko-Pomeranian region has grown. To date, the company has delivered almost half a million m2 here through the development of parks in towns and cities such as Torun and Bydgoszcz as well as BTS centres in Brzesc Kujawski and Grudziadz.

Construction was launched last year on Panattoni Park Grudziadz, the first industrial complex in this area. The development of two buildings with areas of 8,500 m2 and 25,000 m2 are to be financed with the loan from BGK.

BGK is also financing a BTS project for Poczta Polska in Radzymin. The Warsaw-area development will comprise two buildings with a combined area of over 43,000 m2 and is to play a key role in the development of Poczta Polska’s logistics architecture network strategy.

Being equipped with the latest sorting machines for automatically processing parcels, the complex will help improve and optimise the organisation’s package handling.

Said Karina Trojanska, chief financing & operating officer at Panattoni: 'The differences between our projects in Grudziadz and Radzymin demonstrate the diversity and range of our operations at Panattoni.

'We are an excellent development partner for those operating in the so-called big five mature markets, while we also create new business platforms in underserved markets and thus promote their growth.

'The diversification of our operations across Poland is recognised by financial institutions so they are keen to support us in more of our developments. We wish to thank BGK for their constructive partnership and look forward to working with them on further joint projects.'

Panattoni Park Grudziadz is situated in the district of Dragacz next to the Nowe Marzy interchange where National Road 91 meets the A1 motorway, which runs from the northern coast to the southern border of the country.

The BTS project under development for Poczta Polska in Radzymin comprises a cross dock warehouse with an area of over 12,000 m2 and a warehouse and operations building with an area of over 26,000 m2.

Additionally, the centre is to include support areas and technical facilities, plus 400 parking spaces. The development is to be completed in the fourth quarter of this year.


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