Raiffeisenbank Bulgaria lends EUR 36.8mn to Winslow Gardens

Raiffeisenbank Bulgaria will lend BGN 72mn (EUR 36.8mn) for the construction of a residential complex, named Winslow Gardens , in the capital city of Sofia . The credit has 42-month maturity and will cover the first stage of the construction of the facility, expected to finish by mid-2010. The total amount of the project, which holds first-class investment certificate, stands at BGN 200mn; the first stage would absorb half of the financing. Winslow Gardens would be located on area of some 42 decares with total built-up area of 123,000 sqm, including underground facilities. It would consist of residential and business areas, sport facilities, restaurants, etc. The project is run by the global investment unit of Deutsche Bank RREEF (88%) and by the locally registered company Winslow Developments (12%). The two entities have earmarked BGN 252mn for building another residential complex in Bankia, 20 kilometres from the capital city Sofia .