You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

JLL Romania secures 11 mln euro for refinancing of business center in Bucharest

JLL Romania secures 11 mln euro for refinancing of business center in Bucharest Lascar 31 Business Center Bucharest

BUCHAREST (Romania), May 16 (SeeNews) - Property and investment management services provider Jones Lang Lasalle Romania (JLL Romania) said it has secured 11 million euro ($13 million) to refinance an office building in Bucharest.

JLL will refinance Lascar 31 Business Center Bucharest on behalf of the manager of the project, ForeVest Capital Partners, it said in a statement on Tuesday.

Intesa Sanpaolo Bank Romania provided the loan for the property, which consists of 9,250 square meters rentable area.

Lascar 31 Business Center is located in the central area of Bucharest and belong to Romanian IT network infrastructure group UTI.

"The excellent location and the very good specifications of the project drove significant demand for this office building. We are very glad that we found the right partner for the project and we trust in a long partnership between JLL and ForeVest Capital Partners," JLL Romania managing director and head of Capital Markets Silviana Petre Badea said.

Among the building's main tenants are the Romanian offices of the European Commission, the European Parliament, World Bank and of the European Investment Bank.

"By taking over Lascar 31 Business Center we hope we will achieve one important goal: to make the building the hub of prestigious European and International Institutions. This is also in line with the new business lines we intend to develop such as Real Estate and NPL since becoming an independent platform," ForeVest Capital Partners managing partner Doina Popescu said.

JLL is a professional services firm that specializes in real estate and investment management.

ForeVest Capital Partners is an independent alternative investment firm focusing on growth equity investments in mid-market companies across Central and Eastern Europe.

($ =0.8166 euro)