Iulius secures €305m refinancing for mixed-use complex

Romanian real estate developer Iulius has secured a €305 mln syndicated loan to refinance its Palas Iași project and support future developments. 

Palas Iași 

This is the first single refinancing package for a multi-functional, mixed-use complex in Romania.
The loan was provided by a syndicate of banks, including Erste Group Bank Austria (as the main agent), BCR, Raiffeisen Romania, and Raiffeisen Bank International Austria.
Palas Iași, which opened in 2012, was Romania's first urban regeneration mixed-use complex. It remains a significant real estate landmark, attracting over 22.2 million visits last year, and is a strong example of a successful public-private partnership. The new financing will specifically fund the remodelling of Palas Iași and help IULIUS with other projects currently in development.
Marko Brekic, senior client executive Erste Group Bank, said: “Palas Iași hereby the flagship among the Iulius’ projects, is one of the most successful, sustainable urban-revitalization projects in Romania and the wider region, and Erste Group Bank is particularly proud for having been able to contribute to its sustainable financing.” 
Marius Perșenea, COO of Iulius, added: “With this transaction, the Iulius group reaches a historic landmark in 2025, with a total of financing of more than €700 mln attracted within a year, also including the largest green loan obtained by a project under development – Rivus Cluj-Napoca, of +€400 mln in May. At the same time, we continue our strategy of diversification of the lender base, by adding Raiffeisen Romania and Raiffeisen Bank International Austria to the portfolio of national and international banking partners, alongside Erste Bank, a strategic partner of the group.”