Schoenherr advised Banca Intesa a.d. Beograd as the lender in connection with two project finance loans totalling approx. EUR 26m granted to Minel Kotlogradnja Real Estate (part of Israeli BIG Group).
The loans will be used to refinance the development of a modern retail park "Big Fashion Park" (GLA approx. 15.000 m2) and to finance the first phase of the residential project "Big Fashion Residences" (NSA approx. 77.500 m2). Both projects form part of a unique multifunctional concept combining a retail park, residential area – developed on the retail park's rooftop, and a business zone, located next to the Belgrade riverside. Schoenherr acted as lead counsel on the lender's side in all stages of the projects' lifecycles.
Banca Intesa ad Beograd, member of Intesa Sanpaolo, is the leading bank on the local market, a reliable partner of 1.37m clients, natural persons and legal entities. With a net balance sum of EUR 6.6bln, EUR 4.9bln in total client deposits and EUR 3.9bln in total loans, Banca Intesa is at the top of the list of the most successful banks in Serbia. Owing to a unique combination of digitalisation of business processes and a network of 147 branches all over Serbia, as well as constant focus on the needs of citizens and businesses, innovative products and state-of-the-art service, the Bank has been achieving stable results in all areas of business.
The multi-practice Schoenherr team was led by Jelena Arsić (attorney at law) and Marko Kostić (associate).