Warsaw, 17 November 2023 – Krakow-based Cavatina Holding is progressing with its flagship investment in Wroclaw, with Erste Group initiating the first tranche of the loan. The lender sought legal advice from Wolf Theiss.
The financing, which commenced in October, is designed to equip the Polish developer with the necessary capital for refinancing the expenses associated with the Quorum D office building, up to a sum of EUR 25 million. Additionally, it will allocate up to EUR 20 million for the continued development of the Quorum A construction. An extra allocation of EUR 3 million is included to address VAT obligations.
Under the leadership of Partner Przemek Kozdój, Senior Associate Michał Pawlak, and Associates Dr. Jan Gąsiorowski and Maria Markowska, supported by Counsel Iwona Huryn (Real Estate), the Wolf Theiss team advised the lender on all financing aspects from a Polish perspective.
Partner Przemek Kozdój commented on the deal, saying:
The Quorum complex, a versatile development along the Oder River, represents the city’s most significant project of this nature to date and required top-notch expertise and experience. We are grateful for the continued trust placed in us by Erste Group and are proud to be a part of such a milestone transaction for Cavatina Holding.