PKO BP refinances GTC acquisition of Pixel

GTC has refinanced its most recent acquisition of the Pixel office building in Poznań, according to board member Erez Boniel. Poland’s biggest lender PKO BP backed the WSE developer with a €20.5m loan in a transaction that closed this week. GTC signed a preliminary agreement to buy Pixel at the end of last year, in a transaction worth €32.2m. The transaction marked the first deal on the Polish market conducted in line with the developer’s new strategy of acquiring income-generating assets within CEE’s key markets. Just weeks before the Pixel deal, the company acquired Duna Tower project in Budapest. The seven-storey Pixel offers a total of 14,500 sqm of office space that’s let to Allegro, the e-commerce company.