Speedwell has signed a new financing agreement with Banca Transilvania and received an 8-million-euro loan for Phase 2 that is currently under construction and the future Phase 3 of the TRIAMA Residence project.
Speedwell, one of the most dynamic real estate developers, focused on residential and mixed-use projects, has received an 8-million-euro loan for Phases 2 and 3 of the TRIAMA Residence project. Construction works for the second phase of the project have already kicked off in August this year and are continuing at a fast pace since.
TRIAMA Residence is an ensemble located in eastern Bucharest, consisting of three separate buildings, and offering high standard residential units. It features a total of 202 apartments, from studios, to 2 and 3-room apartments, all with efficient layouts,, a 2.75 m free height, and generous terraces.
The project’s location comes with many benefits, such as a metro station just a few minutes away, schools and kindergartens, proximity to the National Arena and the Mega Mall shopping centre.
Furthermore, TRIAMA also includes a Profi proximity shop located on the ground floor of the first building.
The first phase of the project has been sold out before its delivery date and homeowners have already moved in, during the first half of 2021.
Currently, Phase 2 of TRIAMA Residence is up for sale and construction works are ongoing with more than 60% of the units already sold.
The apartments in Phase 3 of the project will be launched for sale in the first months of 2022.
The new loan agreement was fully supported by Speedwell internal finance and legal team, represented by Speedwell’s CFO Natalia Sarpi and Alex Bumbu – Legal Counsel.
“As a real estate developer, we treasure good partners, be it on the B2C side with our valued apartment buyers, or on the B2B side with financing partners. The first collaboration with Banca Transilvania on phase 1 of the TRIAMA Residence project was extremely satisfactory from both sides. As such, we are very happy to continue the partnership until full completion of TRIAMA Residence. For a truly well performing partnership, having good commercial conditions is only one part of the package, having the right people on both sides is what really makes the difference and that’s where Banca Transilvania stands out. We wish to thank them for that.” stated Didier Balcaen, CEO and CO-Founder Speedwell.
Speedwell has a large portfolio of developments in Romania that includes Record Park in Cluj-Napoca, Triama Residence, The Ivy, MIRO and SpacePlus in Bucharest, Paltim in Timisoara, and Riverside City in Ramnicu-Valcea.
For further information, please contact:
Octavian Matache, Commercial Director at Speedwell
+40 (0) 747 494 217