“The outlook for the office leasing market remains favorable in this country with economic growth. Initial negotiations are in progress for the sale of these buildings, although it is not possible to specify the timing at this stage,” Atenor said in its financial report.
Atenor signed a lease for 22,000 sqm with Genpact for a fixed duration of 10 years. Genepact will move into the third HBC building, whose construction was started last May.
During the third quarter, new rental contracts were signed, bringing the occupancy rate of building 2 up to 60%. The second building will be commissioned in January 2016, while the first building of 18,000 sqm, delivered in March 2014, is fully let.
Atenor set off the construction of the office compound in 2011. Its development was financed from the funds obtained through bond issue worth EUR60 million.
In April, Atenor took out a loan of EUR30 million from Garanti Bank, which will be used to refinance the first building of Hermes Business Center and finance the construction of the second building.
According to data from the Electronic Archive of Real Estate Guarantees, the loan was contracted from Garanti Bank. The contract was signed on February 26 with NGY Properties Investment, through which Atenor is developing the office compound.