PeliPartners assisted Mitiska REIM with a development financing of EUR 19 million
PeliPartners assisted Mitiska REIM with financing its newest retail park in Pitesti by obtaining a development loan of EUR 19,000,000 granted by Erste Group Bank AG, with Banca Comercială Română S.A. acting as security agent.
The loan proceeds are intended to fund the development costs associated with finalizing the retail park, as well as to subsequently finance corporate matters after the project becomes operational.
PeliPartners’s involvement included tailoring the LMA type facility agreement by aligning it with the business model of the client, assistance throughout the negotiation of the transaction documents and the closing process.
PeliPartners has a longstanding and successful partnership with Mitiska REIM, as previously PeliPartners assisted their client with refinancing its retail park portfolio for an aggregate loan value of EUR 123,000,000.
At the end of 2023, PeliPartners also assisted Mitiska REIM with the largest real estate transaction of 2023 in Romania and one of the largest in the CEE – the sale of its 25 retail parks in Romania to LCP Group, part of M Core.
The team was coordinated by Carmen Peli (Partner), seconded by Delia Lepădatu (Senior Associate).
