Yareal secures financing for Oxygen project

Yareal Polska announced today that it has secured financing through BNP Paribas for its Oxygen Park project, currently underway in Warsaw. Once completed, Oxygen will add 18,300 sqm of offices to downtown Warsaw, along Aleje Jerozolimskie street. Yareal Polska signed the first tenant earlier this month.
“We consider Oxygen Park an interesting project that should be recognized on the market,” said Marek Kowalski, Director of Real Estate Finance at BNP Paribas Bank of Poland. “The required pre-let level, that made the loan possible, has been reached quickly, which confirms our belief that the project is attractive.”
The scheme will be delivered in two phases. The completion date for the project’s first stage set for the first quarter of 2013, while the entire project is scheduled for delivery in the second quarter of 2014.