Linklaters has advised NREP on a PLN 229 million loan from the EBRD, under the EBRD’s Resilience and Livelihoods Framework, to finance two residential rental projects in Warsaw. Clifford Chance reportedly advised the EBRD.
NREP is a Northern European real estate investor managing assets worth more than EUR 19 billion. It operates in Poland's residential rental market and offers fully furnished, contemporary apartments to a diverse range of tenants.
According to Linklaters, the approximately EUR 50 million “financing has been granted to the Polish subsidiaries of NREP Nordic Strategies Fund IV. The parties have signed an agreement on the first committed tranche of PLN 63.2 million (approximately EUR 13.5 million). The total loan amount of PLN 229 million includes an uncommitted tranche to finance future residential projects.”
Linklaters’ team included Partner Marta Domino, Counsel Adrian Horne, Managing Associate Jedrzej Palka, Senior Associate Maciej Checinski, Associate Marcin Woloszyn, and Junior Associate Przemysław Sanka.
Editor's Note: After this article was published, Clifford Chance confirmed it had advised the EBRD on the matter. The firm's team included Partners Andrzej Stosio and Milica Zatezalo-Falatar, Counsels Kacper Bardan, David Neu, and Bartosz Kaniasty, Senior Associates Wojciech Wator, Edward Charlton Jones, and Katarzyna Paczek, and Junior Associates Krzysztof Burda and Maria Halasa.