Most of the funds will be used to finance the Nord One Brediceanu project.
The first loan, EUR8.4 million, is a real estate investment loan with a maturity of three years, for the financing of Nord One Brediceanu, and the second, RON4 million, is a short-term credit ceiling type loan agreement.
The Nord One Brediceanu complex will comprise 112 apartments, 6 penthouses and retail space on the ground floor of the building.
Imotrust Arad is 74% owned by ALBER HOLDING CAPITA Arad (formerly UTA) and SMART DOWNTOWN SRL Arad holds 16%.
The company is focused on the sale of residential assets, construction of house, sale thereof and sale of farmland.
(English version by Loredana Fratila-Cristescu)