BCR lends EUR 575m to Copper Beech for real estate projects
22 November 2007
Banca Comerciala Romana (BCR), the largest local lender, has signed an agreement with developer Copper Beech Group, for financing worth EUR 575 million for several real estate projects. The financing deal was signed for a period of 12 years.
Copper Beech recently announced its plan to build some 16,500 homes and apartments in the following years, worth a total of EUR 2.5 billion.
”This is one of the most important collaborations in the field of financing for Real estate projects in Romania,” according to Copper Beech General Manager, Diwaker Singh.
The developer has already launched its first project, Blue Tower, a building with 165 apartments in Bucharest's Colentina neighbourhood, worth some EUR 30 million.