HelloParks, Erste Bank sign loan deal worth over EUR 80 mln

Logistics

HelloParks has signed a loan agreement worth more than EUR 80 million with Erste Bank to finance the construction of HelloParks Maglód’s first three phases, according to a press release sent to the Budapest Business Journal.

Erste Bank will provide a total of EUR 82 million in loans to Futureal Group’s industrial real estate developer for a period of more than 10 years.

The first 46,000 sqm building (MG1) of HelloParks Maglód, which received the Excellent certificate for the Design Stage in BREEAM’s New Construction category, was handed over in January.

Preparations are underway for the second 45,000 sqm hall, which is scheduled to be handed over by the last quarter of 2022, however, further facilities are already being designed and licensed to enable the company to meet existing and future needs as quickly as possible.

The megapark in Maglód will be realized on a 46-hectare area where the company plans to develop more than 200,000 sqm of warehouse and light industrial space.

HelloParks Maglód is located along the ring road M0, near the M4 and M5 motorways and the Budapest Ferenc Liszt International Airport.

The park's first building is home to companies with an international network, such as the Hungarian-owned Karzol-Trans, which has been dealing with logistics for more than 25 years, FoxPost, who set up a central warehouse here to serve its nationwide parcel sorting machine network, or the Lithuanian based Bútor1, with a distribution center for 8 countries.

The first 46,000 sqm phase is already operating with more than 80% occupancy and negotiations are underway for the remaining free space, the press release says.

“One of the keys to our company's competitiveness is a comprehensive service package that goes beyond warehousing. The use of environmentally friendly, sustainable and high-quality engineering solutions is becoming a priority not only for us, but also for our tenants, as well as creating a liveable, people-centered, and user-friendly environment, which plays an important role in employee retention. That is why we take our clients' needs into account right from the design stage," says Rudolf Nemes, CEO of HelloParks. "The newly signed loan agreement between HelloParks and Erste Bank is another step in the decades-long successful cooperation between one of the largest financial institutions in the Hungarian banking market and the Futureal Group, also a guarantee that with their help we will be able to deliver our plans at the highest level."

György Salamon, head of real estate financing at Erste Bank Hungary, notes, “Erste Bank's more than 15 years of cooperation with the Futureal Group has reached another milestone, and we are particularly pleased that the group has chosen Erste Bank to finance its new industrial logistics business. Environmental protection and sustainability are top priorities within Erste Group and the financing of the planned investment with its BREEAM Excellent rating fits perfectly into the bank's ESG financing strategy. We are proud to be part of the latest chapter in the history of Futureal."

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