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Illustration of a High Definition scene depicting a generic business entity acquiring property in Gdynia, Poland, financed by a loan from a major international banking institution. The shot captures the moment when the paperwork is being signed, amidst a backdrop of the scenic coastal city. It's a sunny day with clear skies and the city's architecture stands out in the landscape.

BALTICON Purchases Property in Gdynia with a Loan from Santander Bank

Opublikowano przez Marcin Strzembosz włączony 29 maja, 2024
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Illustration of a High Definition scene depicting a generic business entity acquiring property in Gdynia, Poland, financed by a loan from a major international banking institution. The shot captures the moment when the paperwork is being signed, amidst a backdrop of the scenic coastal city. It's a sunny day with clear skies and the city's architecture stands out in the landscape.

Zarząd BALTICON S.A. (hereinafter referred to as the „Issuer”) announces to the public that on May 29, 2024, the Issuer (as the Buyer) entered into a promised sales agreement with Schenker spółka z ograniczoną odpowiedzialnością with its registered office in Warsaw (as the Seller). The Seller sold to the Issuer the perpetual usufruct right to real estate consisting of cadastral lots No. 1168 and 1169, with a total area of 1.4549 ha, located in Gdynia, at Hutnicza 36 Street, along with rights associated with the perpetual usufruct right (including ownership of the buildings and facilities erected on it), for a net price of PLN 9,250,000.00, increased by the applicable value-added tax, resulting in a gross price of PLN 11,377,500.00 (hereinafter referred to as the „Promised Sales Agreement”).

The Promised Sales Agreement was concluded in execution of a preliminary agreement, as reported by the Issuer in the interim report ESPI No. 1/2024 of March 26, 2024. The Issuer also informs that Santander Bank Polska Spółka Akcyjna with its registered office in Warsaw (hereinafter referred to as the „Bank”) granted the Issuer a loan of PLN 10,000,000.00 (ten million zlotys), with a variable interest rate and a repayment deadline of March 31, 2030, intended, among other things, for the acquisition of the above-mentioned subject of the Promised Sales Agreement.

Additionally, within the previously concluded MultiLine agreement No. M0007206, the Bank granted the Issuer a revolving loan of up to PLN 2,127,500.00 (two million one hundred twenty-seven thousand five hundred zlotys) with a variable interest rate and a repayment deadline of September 30, 2024, intended for financing the VAT tax incurred in connection with the purchase of the perpetual usufruct right to the property.

Both loans are secured, among other things, by a contractual mortgage in the amount of PLN 23,200,000.00 granted to the Bank on the acquired perpetual usufruct right to the property. Other provisions of the Promised Sales Agreement and both loan agreements are typical for this type of agreement.

BALTICON Acquires Property in Gdynia with External Funding

BALTICON S.A., a company based in Poland, recently announced its acquisition of a property in Gdynia through a sales agreement with Schenker Spółka z ograniczoną odpowiedzialnością. The property consists of two cadastral lots with a total area of 1.4549 ha and is located at Hutnicza 36 Street. The sale includes the perpetual usufruct right, ownership of buildings and facilities on the property. The net price for the acquisition was PLN 9,250,000.00, with a gross price of PLN 11,377,500.00 after adding value-added tax.

The Promised Sales Agreement was executed based on a preliminary agreement previously reported by BALTICON in an interim report in March 2024. To fund this acquisition, BALTICON secured a loan of PLN 10,000,000.00 from Santander Bank Polska Spółka Akcyjna. The loan has a variable interest rate and is due for repayment by March 31, 2030. The loan was primarily obtained for the purpose of acquiring the property mentioned in the Promised Sales Agreement.

In addition, BALTICON obtained a revolving loan of up to PLN 2,127,500.00 from Santander Bank Polska Spółka Akcyjna through a MultiLine agreement. This loan is specifically intended for financing the VAT tax related to the purchase of the perpetual usufruct right to the property. It also has a variable interest rate and must be repaid by September 30, 2024.

Both loans obtained by BALTICON for the property acquisition are secured by a contractual mortgage in the amount of PLN 23,200,000.00 on the acquired perpetual usufruct right to the property. These mortgage arrangements provide further security to the bank.

This acquisition and the external funding obtained by BALTICON demonstrate the company’s strategic expansion efforts and its commitment to the Gdynia real estate market. The purchase of this property opens up possibilities for BALTICON to capitalize on future developments and opportunities in the Gdynia area.

For more information about BALTICON and its activities, you can visit their official website here.

The source of the article is from the blog reporterosdelsur.com.mx

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