G City Europe secures €32m for Warsaw residential hub

G City Europe has successfully secured a €32 mln long-term loan from Helaba to fund its new residential project, Ostrobramska, in Warsaw. 

Or Ackerman

This development will feature 15,700 m2 of residential space, 442 apartments, and 277 parking spots. Located next to the Promenada Shopping Centre, it offers residents easy access to shops, services, and coworking spaces, promoting an integrated urban lifestyle.
G City Europe was advised by Helaba for financing, Deloitte Legal and DLA Piper for legal counsel, and Arcadis for technical due diligence. 
Additionally, G City Europe announced the appointment of Or Ackerman as its new CEO. Ackerman joined G City in 2019 and previously served as Group CFO, where he significantly improved financial performance and led strategic initiatives. His extensive experience in real estate is expected to drive G City Europe's future growth and value creation.
G City Europe, previously known as Atrium European Real Estate, owns, operates, and redevelops community shopping centres and residential rental properties primarily in the capital cities of Warsaw and Prague. The company focuses on shopping centres featuring food, fashion, and entertainment in prime urban locations. 
G City Europe's portfolio includes 21 properties, boasting a total gross leasable area exceeding 680,000 m2  and an estimated market value of around €2.3 bn. Key properties include Wars Sawa Junior, Atrium Promenada, Atrium Targówek, and Atrium Reduta in Warsaw, Galeria Dominikańska in Wroclaw, and Atrium Flora in Prague.