Linklaters advises NREP on a loan for rental housing in Poland

Linklaters has advised NREP, the leading Northern European real estate investor managing assets worth more than €19 billion, on a PLN 229 million loan (ca. €50 million), to finance two residential rental projects in Warsaw. The financing is provided by the European Bank for Reconstruction and Development (EBRD), under the EBRD’s Resilience and Livelihoods Framework.

The financing has been granted to the Polish subsidiaries of NREP Nordic Strategies Fund IV. The parties have signed an agreement on the first committed tranche of PLN 63.2 million (ca. €13.5 million). The total loan amount of PLN 229 million (ca. €50 million) includes an uncommitted tranche to finance future residential projects.

NREP operates in Poland's residential rental market and offers fully furnished, contemporary apartments to a diverse range of tenants. 

The transaction was led by Maciej Chęciński (senior associate) and supervised by Marta Domino (partner) from Warsaw banking and finance practice. The wider banking and finance team included Marcin Wołoszyn (associate) and Przemysław Sańka (junior associate). Adrian Horne (counsel) advised on English law aspects and hedging arrangements. Jędrzej Pałka (managing associate) provided real estate advisory.