BCR gives EUR 30 mln refinancing for Bucharest office building

Real estate investor Ioannis Papalekas, one of the most active real estate investors in Romania in recent years, has refinanced the Tower Center International office building purchase in Bucharest with a EUR 30 million loan from BCR, via his fund Globalworth. Tower Center International is located close to Victoriei Square in Bucharest and was finalized in 2012. It hosts tenants such as Hidroelectrica, Deutsche Bank, Cegeka, and the European Funds Ministry. The building was estimated at some EUR 78 million end-June. The fund also owns the office buildings BOB and BOC in Pipera, and the residential compound Upground Estates. Its ongoing projects include the Bucharest One office compound, where Vodafone already took a 15,000 sqm lease. editor@romania-insider.com