IULIUS announces a new syndicated loan facility amounting to 305 million Euros for a portfolio of multiple buildings, part of a mixed-use project – Palas Iași.
The loan is granted by a bank syndicate comprising Erste Group Bank Austria, BCR, Raiffeisen Romania and Raiffeisen Bank International Austria. The financing will provide the required capital for the remodelling of Palas Iași and will support the implementation of the company’s projects under development.
The first urban regeneration mixed-use complex in Romania, Palas Iași, opened in 2012, remains a landmark for real estate projects in Romania, a model of good practice in the implementation of a public-private partnership and a hub of regional, economic, touristic and social development.
“IULIUS stands for the leading real-estate developer who beyond the pure commercial logic creates substantial value-added for the communities where they invest. Palas Iași hereby, the flagship among the IULIUS’ projects, is one of the most successful, sustainable urban-revitalization projects in Romania and the wider region, and Erste Group Bank AG is particularly proud for having been able to contribute to its sustainable financing”, stated Marko Brekic, Senior Client Executive Erste Group Bank AG.
“IULIUS has successfully completed a major step in the optimization of the resources and costs related to the loan portfolio, by signing a refinancing of 305.6 million Euros. It is a strong confirmation, on banking and real estate level, of the relevance, impact and quality of the IULIUS’ projects, where the synergy of the retail, office and entertainment functions strengthens their position as regional business, shopping and lifestyle destinations in the long run, and increases their resilience. With this transaction, the IULIUS group reaches a historic landmark in 2025, with a total of financing of more than 700 million Euros attracted within a year, also including the largest green loan obtained by a project under development – RIVUS Cluj-Napoca, of +400 million Euros in May. It is a result that provides the liquidity required for the development of the new projects that IULIUS is doing. At the same time, we continue our strategy of diversification of the lender base, by adding Raiffeisen Romania and Raiffeisen Bank International Austria to the portfolio of national and international banking partners, alongside Erste Bank, a strategic partner strategic of the group”, said Marius Perșenea, Chief Operating Officer of IULIUS.