GTC signed a refinancing loan agreement for one of largest assets in its portfolio, Galeria Jurajska. Celebrating its 10th anniversary in 2019, Galeria Jurajska is one of the brightest points on Silesian retail map, offering over 200 stores, service points, restaurants and multi-screen cinema placed on 48,700 sq. m.
Over 50 shops have recently prolonged their lease in Galeria Jurajska given their successful performance in the mall and its attractiveness among customers living in Silesia Province. The shopping center was granted BREEAM certificate at the “Excellent” level for the implementation of ecological solutions such as energy-saving lighting or efficient air handling system. A number of banks have showed interest in refinancing the asset, and GTC management has selected the best offer.
„The new loan will generate over EUR 40 million of free cash to GTC at attractive financial conditions. This high-quality investment continues to provide GTC with important Free Flow from Operations (FFO) alongside with substantial free cash from refinancing provided by leading banks in the region.” – said Erez Boniel, GTC’s CFO.
