Iulius and Atterbury Europe have secured the largest loan ever granted for a new real estate development in Romania.
The €400M syndicated financing will back the development of the Rivus Cluj-Napoca mixed-use urban reconversion project. The green loan was provided by a consortium of four major financial institutions: Erste Bank, BCR, EBRD and BRD.
Andrei Svoronos, Associate Director / Senior Banker at EBRD, announced the signing of the deal at Bucharest Business Forum 2025, organised by Property Forum on 20 May.
The financing meets LEED Platinum and EDGE Advanced sustainability standards, covering the entire development-operation-top-up cycle. The funding will primarily support the retail component of the project, including cultural areas and green spaces, totalling 132,500sq m of leasable space.
Marius Perșenea, COO at Iulius, said: “For Iulius, this loan continues the series of premieres in terms of financing: from the first green loan granted to a Romanian company back in 2021, to the largest real-estate refinancing loan in Romania in 2022 and now the largest development loan in the industry. To us, all these milestones certify the attractiveness and quality of IULIUS projects. We are excited that every single time we are able to attract new partners in the financing process, with EBRD now joining the group of banks with which we are collaborating.”
“Erste Bank and BCR are particularly focusing on sustainable and socially responsible projects and as such, the subject Rivus project which is expected to be the biggest urban green revitalisation of the current brown field areas of Cluj-Napoca and which is planned to meet the highest sustainability criteria is one of the prime targets,” added Marko Brekič, Senior Client Executive from Erste Group Bank.
“By transforming a long-neglected site into a vibrant public space, the initiative will both enhance the city’s landscape and advance the goals of the EBRD Real Estate Sector Strategy 2025-2029, where urban regeneration is a core pillar. It also marks the Real Estate team’s largest urban regeneration project signed so far this year, a milestone we are extremely proud of,” said Vlaho Kojakovic, Director of Real Estate for the EBRD.
