CPI Property Group secures EUR 100 mln financing for Bucharest’s Sun Plaza mall

CPI Property Group has secured EUR 100 million in financing for Sun Plaza, one of the largest shopping centers in Bucharest. The funds were arranged through a club-deal involving OTP Bank and ING Bank Romania.

The company said the transaction was signed through its subsidiary CPI Europe AG and also marks the beginning of a new cooperation relationship between CPI Property Group and ING Bank.

Opened in 2010, Sun Plaza is one of the main retail destinations in southern Bucharest, bringing together more than 170 retail, horeca, and entertainment concepts across approximately 81,000 square meters of gross leasable area. The mall has direct access to the Bucharest subway station at Piața Sudului and holds a BREEAM Excellent sustainability certification.

“Sun Plaza continues to deliver strong operational performance and remains one of the highest-quality retail assets in our portfolio,” said Marketa Vecerova, Group Head of Real Estate Financing at CPI Property Group.

Representatives of both banks said the financing reflects confidence in Romania’s retail market and in the long-term attractiveness of the shopping center.

Law firm Dentons acted as legal adviser to the lenders in the transaction.

CPI Property Group is one of Europe’s largest real estate owners, with a property portfolio valued at more than EUR 18 billion across Central and Eastern Europe.

(Photo source: Sun Plaza)