The financing contract was signed on March 27, Impact, which owns 45% of the firm, said in a statement Monday.
In 2010, Impact said it planned to build a class B office tower and attract EU funds to co-finance the project. Works were initially scheduled to begin in September 2010.
On March 29, Impact shareholders rejected the expansion of residential compound Greenfield, which was to be added 25,000 square meters of new apartments.
Impact, founded by businessman Dan Ioan Popp, has built some 2,000 apartments in Romania. Its largest project is Greenfield, which includes about 750 apartments.
Businessman Gheorghe Iaciu, majority shareholder of regional investment fund SIF Muntenia (SIF4.RO), bought a 23.22% stake in Impact last week for 6.4 million lei (EUR1.4 million) and became its major shareholder.
The company’s shareholders also include businessman Adrian Andrici (10.69%) and investment management company East Capital, which owns a 10.1% stake via Cyprus-based Salink Limited.
Impact was last traded in Bucharest Thursday at RON0.147 a share. (EUR1=RON4.4143)