Helaba, Berlin Hyp and pbb provide €230m refinancing for Warsaw Spire Tower

German lenders Helaba, Berlin Hyp and pbb Deutsche Pfandbriefbank have jointly underwritten an investment facility totaling €230 mln to refinance Warsaw Spire Tower.

The asset is owned by Vienna and Warsaw-listed property group Immofinanz, which bought it this summer from Ghelamco Group and Madison International Realty for €386 mln.

The financing transaction closed in September 2019.

Helaba, Berlin Hyp and pbb are acting as joint lead arrangers providing equal portions of the funding, with Helaba acting as facility and security agent of the transaction.

The 220 metre-high office building comprises around 71,600 m2 of rental space, with some 65,000 m2 of offices over 49 floors and the remainder used mostly for retail purposes. It was completed by local developer Ghelamco in 2016, with Madison taking a 50% stake two years later in a deal valuing the tower at €350 mln.


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