HB Reavis secures additional funding for a green office building

A syndicate of four banks has increased the loan for refinancing the Forest office campus in Warsaw to €205 million. Delivered in 2022, the buildings are one of the largest HB Reavis projects in Europe, notable for their numerous BREEAM- and WELL-certified green solutions.

A syndicate made up of Santander Bank Polska (Loan Agent), BNP Paribas Bank Polska S.A. (Security Agent), Bank Pekao S.A. and PKO Bank Polski S.A. (Account Bank) has raised the existing loan for the Forest campus from €162 million to €205 million. The original loan was granted to HB Reavis in 2020.

Forest offers a total of 78,000 sq m of office space, as well as restaurants and services. The project stands out for its public green areas, including a popular plant-filled terrace with a stunning view of Warsaw. The buildings feature many innovative solutions, including an energy-efficient facade and a rainwater harvesting system.

The largest tenant in Forest is Bank Pekao S.A., which together with its subsidiaries occupies over half of the area of the complex. Forest’s workspace is also already being used or will soon be used by companies such as Leroy Merlin, Servier, Infor, PUMA, AmeriGas, Sweco, Husqvarna and Vorwerk, among others. The campus is also home to an Enel-Med health centre, a kindergarten, a bakery, a furniture shop, as well as a clothes & outdoor gear shop.

In line with the strategy of maximising the long-term value of the property, the completed Forest project was added to the portfolio of the newly founded HB Reavis Investments vehicle, which currently holds a majority of the company’s income-generating assets in Europe.

HB Reavis engaged Dentons for advisory services on the latest transaction. DLA Piper provided consultancy for the bank syndicate, and Arcadis served as the technical advisor.