RPG Byty obtained EUR 7 million loan
RPG Byty, s.r.o. - a member of RPG Real Estate group - obtained EUR 7 million loan from its owners for further regeneration of its residential portfolio. These funds, approx. CZK 180 million, were provided in addition to already-approved budget of CZK 3 billion to be spent on regeneration of the portfolio in the period of 2010-2012. The loan of EUR 7 million will be used for regeneration of residential buildings in several socially deprived locations.
EUR 7 million for regeneration of residential buildings in socially deprived locations were loaned to RPG Byty by its owners via BXR Real Estate Investments BV as a long-term loan with standard conditions and with standard form of securing the loan by putting assets in pawn. To prevent any possible speculations about this practice, Tony Aksich, CEO, RPG Real Estate explains: „Due to a limited amount of money we collect from rents, we cannot proceed with regeneration of our portfolio as quickly as we ourselves would wish. That is why we are trying to secure external financing that would help us increase the rate of repairs. Taking loans and putting assets in pawn in connection with this effort of ours is absolutely keeping with the Privatization contract of 2004 and was not forbidden either by the preliminary injunction that was issued by court last December and that has been lifted lately.”
For example, thanks to a bank loan, RPG regenerated comprehensively buildings containing over 800 apartments in four selected neighborhoods last year. Now, the loan will help to repair buildings in Ostrava-Kuncicky, Havirov-Sumbark or Karvina-Nove Mesto. „After having started several community projects in socially deprived neighborhoods last year, we want such projects to continue this year as well. Currently, we have been working on joint projects together with Slezska Ostrava city district and the cities of Havirov, Karvina and Orlova,” says Tony Aksich.
More detailed information about the projects to be realized thanks to the EUR 7 million loan will be provided as soon as preparations for these projects are finished. The realization of these projects should start by summer holidays.
Informace pro média:
The real estate group RPG Real Estate was established in the middle of 2006 as a result of the transformation of the mining company OKD, a.s. The property and activities related to real estate were incorporated into RPG Real Estate. Today, the brand RPG Real Estate includes the companies RPG Byty, RPG RE Commercial, RPG RE Land, RPG RE Management and RPG Služby. The Group today owns and manages significant property, including residential properties, commercial space, commercial buildings, hotel complexes, hotels and extensive land, primarily in the Moravian/Silesian region.
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