Penta Real Estate obtained a bank loan in the amount of 100 million euros for Bory Mall
Our company obtained a bank loan in the amount of 100 million euros to refinance the debt for the shopping and entertainment center Bory Mall in Bratislava. Financing will be provided by several European banking groups operating in Slovakia and abroad.
The loan for the shopping and entertainment center Bory Mall was provided by a syndicate of four banks: VÚB banka, Slovenská sporiteľňa, ČSOB and Hypo-Bank Burgenland.
During the bank operation, the law firm AK Škubla provided advice and legal support to us, while the syndicate of banks was represented by the law firm Kinstellar. This demanding and complex business transaction was realized, and the loan was funded within a few weeks after receiving the financing approval. For a transaction of this type and volume, this process can be perceived as extremely effective and prompt.
"Successful refinancing is a reflection of the excellent economic condition of our company as well as a result of the fundamental growth potential of the Bory Mall shopping center and the entire Bory zone. The preplanned expansion and further development of the shopping and entertainment center will be made possible also thanks to this financial operation. I am therefore very happy that the banks share our belief in the project and its future development. Since its opening in 2014, the number of Bory Mall visitors has been growing steadily and it has become the first choice for visitors from western Bratislava and the surrounding area," said Juraj Nevolník, Executive Director of Penta Real Estate Slovakia.
"We have stood by the successful Bory Mall project since its very beginning, and we are very happy to continue with its financing. We believe in the strength and prosperity of the location as well as in the sponsor of the project, Penta Real Estate. We are happy to be able to support this project as an agent of the syndicate," says Andrej Viceník, Senior Director of the Corporate Banking Department and member of the Board of Directors of VUB, a.s.
"The transaction of such volume is a confirmation of the fact that Slovenská sporiteľna has a prominent place on the market of real estate project financing. I would like to thank all my colleagues and the entire client team for making this project possible. And of course, also to the client for their trust," said Norbert Hovančák, member of the Board of Directors of Slovenská sporiteľna, responsible for corporate banking and financial markets.
"We believed in the Bory Mall project and its success from the very beginning in 2014. We are glad that our financing could contribute to the development of this project and the entire location. Considering that this part of Bratislava is expanding, and we see great potential in its further growth as well as its professional sponsor, we did not hesitate to continue with its financing," says Ľuboš Ondrejko, Senior Director of the Corporate Banking Department, and member of the Board of Directors of ČSOB, a.s.
About Bory Mall
Bory Mall is a shopping and entertainment center in the western part of Bratislava. It is a part of the Bory project, located in the newly built area in the northwestern part of Bratislava. It was opened on November 13, 2014.
Its family-oriented approach offers a wide variety of high-quality shopping and free time opportunities. 54,000 sq. meters provide visitors with almost 200 shops, restaurants, cafes, and interesting attractions for children. Every year, there are several events held in the center which are primarily focused on families with kids. Some of the popular events are: Motosalón Bory, the Garden Festival, as well as Mallý trh, where visitors can buy fresh produce directly from farmers. Due to its size, Bory Mall fulfills the role of a supra-regional shopping center. Its location next to the D2 motorway facilitates access for motorized visitors, with more than 2,400 parking spaces available in the outdoor or underground car park.
About the growing Bory district
The Bory zone is situated between the Bratislava districts of Lamač and Devínska Nová Ves. In addition to housing, the area provides public amenities of commercial and non-commercial nature. The commercial part consists of the Bory Mall shopping center and Bory Retail Zone which contains several large commercial establishments of different sorts. The non-commercial part consists of Bory Hospital which is currently under construction and is scheduled to open in March 2023. There is also a kindergarten which Penta Real Estate handed over to the city district of Lamač for a symbolic sum of one euro in the summer of 2021. In addition to the kindergarten, there is a project plan for the construction of a combined primary and secondary school.
The residential part under the name of Bory Bývanie is divided into several stages. Bory Prvé Domy is almost finished, the last apartment building is under construction. The Bory Nový Dvor stage is divided into two parts, the first one is already completed and the second is still under construction. Bory Promenáda and Bory Na Hrádzi are also being built. The fifth stage is currently in the process of Environmental Impact Assessment (EIA) and another three stages are in the building permit process. The first five stages of the project will bring almost 2,000 apartments to the locality.
The transport infrastructure in the Bory zone is connected to the nearby D2 motorway, the city center is less than 15 minutes of driving distance. The proximity to the motorway also guarantees an excellent access to nearby cities, such as Vienna, Brno, Budapest, or Prague. It goes without saying that the Bory zone is connected to the existing public transport network. In the future, there is a plan to extend the tram line from Dúbravka.