Watson Farley & Williams has advised Greek-listed Grivalia Properties REIC (“Grivalia”), on a long-term €50m loan facility from the International Finance Corporation (“IFC”), a part of the World Bank Group.
This is one of first long-term finance transactions undertaken by IFC in Greece since it re-engaged with the country in 2015.
The IFC financing will fund an investment programme undertaken by Grivalia involving green building upgrades, refurbishing its existing portfolio and investments (including acquisitions and developments) in a number of sectors including logistics and retail throughout Greece. This will enable Grivalia to be the first Greek company to acquire the IFC’s Excellence in Design for Greater Efficiencies (EDGE) certification, a leading standard for green building.
The WFW team advising Grivalia was led by Athens Partner and Head of the Greek Corporate, Projects and Finance practices Virginia Murray (Picture), supported by London Real Estate Finance Partner Ranjeev Kumar and Senior Associate James Kilgour.
Law Firms: Watson Farley & Williams;
Clients: Grivalia Properties REIC;