GTC refinances German resi portfolio with €148.8m loan

CEE commercial real estate investor and manager GTC has refinanced a significant portion of its German residential portfolio.

Jacek Baginski

The company secured a new €148.8 mln loan agreement with Berlin Hyp, which matures in 2031. This new financing replaces an older loan, effectively extending GTC's debt maturity and bolstering its long-term financial stability.

The loan specifically covers properties in Kaiserslautern and Heidenheim, which are part of GTC's German residential platform acquired in late 2024 and early 2025. This refinancing is a crucial step in GTC's broader strategy to optimise its debt, alleviate short-term refinancing pressures, and ensure stable funding for future portfolio growth.

Jacek Bagiński, CFO of GTC, said: “This transaction marks another important milestone in GTC’s debt refinancing and extending the Group’s debt maturity profile. The new loan refinances the bulk of the senior bank loans financing the German portfolio at standard market cost of funding. This agreement brings us one step closer to completing all the key refinancings due this year.”

Mihály Ország, Chief CFO and member of the Management Board of GTC, added: “We are pleased with the successful cooperation with Berlin Hyp on this transaction, which confirms the confidence of leading financial institutions in GTC’s long-term strategy. This refinancing strengthens our position and provides a stable foundation for the continued active management of our assets and for decisions regarding their future.”

This refinancing is the latest in a series of financial moves by GTC aimed at improving its liability structure. These measures include the successful issuance of €455 mln in senior secured notes in October 2025, which has already significantly extended the company's overall debt maturity. These actions collectively support GTC's strategic goal of building a stronger balance sheet and maintaining the flexibility needed to further optimise its property portfolio across various markets.

To date, GTC Group has developed 82 office buildings and shopping centres, totalling 1.4 million m2. Currently, GTC manages a portfolio of 44 properties, offering 727,000 m2 of leasable space in key cities such as Warsaw, Budapest, Bucharest, Belgrade, Zagreb, and Sofia. Since 2024, the company has also expanded into the German residential market, owning nearly 5,200 units. Furthermore, GTC is actively developing over 65,000 m2 of commercial space across five ongoing projects and holds land for future developments.