Business Forum • 13 June, 2024 at 10:24 AM
PeliPartners assisted Mitiska REIM with financing its newest retail park in Pitesti by obtaining a development loan of €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 €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).
PeliPartners has a team specializing in complex projects that require innovative approaches. PeliPartners lawyers have been involved in some of the most important transactions on the Romanian market in the last 20 years. The team has a wealth of experience in a variety of fields, including mergers and acquisitions, financing, competition, infrastructure & concessions, energy, real estate and corporate law.