SPEEDWELL completes RECORD PARK Offices and refinances its loan from BRD Société Générale
BRD Société Générale refinanced its initial loan to Speedwell for the development of RECORD PARK office project
The developer Speedwell and BRD Société Générale started their partnership back in 2018, after signing a financing agreement for the office component of the RECORD PARK mixed-use project. The bank granted a loan of EUR 12.1 million for the development of the RECORD PARK office.
RECORD PARK is Speedwell’s first project in Cluj-Napoca, as well as the first mixed-use development and urban regeneration project in the city. It combines a residential component with 236 apartments, 15.000 sqm of A class office and retail spaces, a historic building that has been refurbished and converted into co-working spaces and a restaurant, as well as an WorldClass sports club.
“We are happy to announce having successfully completed RECORD PARK Offices and delivering it to our tenants. As a next step, we refinanced the construction loan which, after refinancing, reaches 22 million euros. We are thankful for a strong partnership and great collaboration with BRD Société Générale. Thanks to it, we have created a safe environment, focused on the well-being of our tenants’ employees, close to Cluj’s city centre. We are looking forward to extending our portfolio with similar projects.” stated Didier Balcaen, CEO and CO-Founder Speedwell.
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