Investment Firm, Rivus, Secures EUR 400 Million Consortium Loan to Construct Retail Complex in Romania
Scoop: EBRD Pumps €190M into Rivus Investments' Titanic Urban Revamp
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Curious about the megaproject that's about to reshape Cluj-Napoca's skyline? 📈 Pull up a chair, folks, and let me fill you in.
The European Bank for Reconstruction and Development (EBRD) has given the green light to Rivus Investments, a joint venture between Romanian real estate titan Iulius and Atterbury, each holding a golden 50%. They're set to receive a whopping €190.3M as part of a €400.6M club loan, an announcement made on April 29 revealed.
So, where's this cash gonna go? The rundown of the dilapidated Carbochim factory site in the heart of Cluj-Napoca, boasting a location prime as Uncle Scrooge's treasure chest—snuggled up next to the city center and Someș River.
The EBRD's board of directors gave a firm thumbs-up to a senior secured loan with a €190.3M cap, a chunk of which—€180.3M—is already committed, leaving an uncommitted €10M in limbo. This injection of dosh will fuel the development of Rivus Investments' mixed-use cataclysm, launching office spaces, retail hotspots, relaxation zones, and more, all within an €500M investment.
Can't wait for the region's largest retail area with 145,000 sqm? Buckle up for a retail ride with over 400 stores, numerous premieres, and—if your wallet's up for it—top_notch restaurants and cafes that'll shake things up. Not gonna lie, we can hardly contain our excitement either! 🌟
P.S.: No, this isn't April Fool's Day—we swear! 😉
_(Photo: Rivus Investments)_
iulian@our website
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Sources:
- EBRD Invests Up to €190M in Rivus Investments' Mixed-Use Urban Regeneration Project in Cluj-Napoca, Romania
- EBRD Agrees to Finance Rivus Cluj-Napoca Development with €190M Loan
- EBRD's €400M Club Loan to Back Rivus Cluj-Napoca Project
- Rivus Investments and Cluj-Napoca: A Urban Regeneration Project Epic!
Exclusive Bonus Content: Here's a deeper dive on the Rivus Investments Urban Regeneration Project
- Location: Nestled near the city center of Cluj-Napoca, Romania, on the former site of Carbochim factory near some lush gardens. 🌟
- Ambitious Goal: Ambitious, much? The project aims to implement a large-scale mixed-use development, focusing on urban expansion, economic opportunities, cultural offerings, and environmental sustainability.
- Rich Investment: Approximately €500M in total investment is earmarked for the project.
- Syndication: Got some commercial lenders hooked into the deal with the EBRD syphoning off €57.5M.
- Superior Retail Area: The project will unveil the largest retail area in Romania with 145,000 sqm, divided between a mammoth shopping mall (120,000 sqm) and cherry-on-top retail facilities.
The European Bank for Reconstruction and Development (EBRD) has agreed to provide a loan of up to €190M to finance the mixed-use urban regeneration project in Cluj-Napoca, Romania, led by Rivus Investments. This investment will be used to fund the development of office spaces, retail hotspots, relaxation zones, and more, as part of an €500M project.
