AFI Romania secures €537m refinancing

Real estate developer and investor AFI Romania has secured a €537 mln refinancing package, the largest of its kind in the Romanian real estate market.

AFI Brasov

The refinancing package covers three of AFI's flagship mixed-use projects: AFI Cotroceni, AFI Brașov, and AFI Ploiești. 
The financing syndicate comprises a consortium of leading financial institutions: Erste Bank, Banca Comercială Română, Raiffeisen Bank, Raiffeisen Bank International, and Unicredit Bank, with Dentons representing the lenders. AFI received legal counsel from CMS.
Key Projects Bolstered by the Refinancing:
AFI Cotroceni: One of Central and South-Eastern Europe's largest shopping centres, AFI Cotroceni boasts 90,000 m2 GLA and hosts over 350 international and local brands. Located in Bucharest's western area, this dynamic mixed-use complex also features AFI Loft, a 15,400 m2 Class A office project and the only office building delivered in Bucharest in 2024.
AFI Brașov: This mall in the heart of Brașov offers 45,000 m2 GLA and features over 150 international and local brands. The mixed-use development also includes AFI Park Brașov, a 27,500 m2 Class A office project, with its second phase currently under construction.
Doron Klein, Group deputy CEO & CEO AFI Romania, commented: “This refinancing reflects the strong confidence our financial partners place in AFI's portfolio and in the long-term potential of the Romanian market. We remain committed to advancing our development and consolidation plans, staying true to our mission of delivering sustainable, high-quality projects that meet the evolving needs of our communities and clients.”