Rivus Investments, of which Romanian real estate developer Iulius and its foreign partner Atterbury each own 50%, attracted financing of EUR 190.3 million, part of a club loan of EUR 400.6 million, the European Bank for Reconstruction and Development (EBRD) announced on April 29.

The money is intended for the development of the real estate project in Cluj-Napoca, which will be built on the site of the Carbochim factory.

The EBRD announced the board endorsed the provision of a senior secured loan of up to EUR 190.3 million, out of which EUR 180.3 million was committed and EUR 10 million uncommitted in favor of Rivus Investments, to finance the development of a mixed-use urban regeneration project located in Cluj-Napoca, Romania. 

The Rivus project will have a mix of functions such as retail, cultural, office, entertainment, services, park, and relaxation spaces and will involve an investment of EUR 500 million.

The project will have the largest retail area in Romania, 145,000 sqm, which will integrate both a 120,000 sqm mall and complementary retail facilities.

Over 400 stores will open here, including regional and national premieres and over 30 new concept restaurants and cafes.

(Photo: the company)

iulian@romania-insider.com