Park Street A/S (“Company”) has now signed long term debt facilities of DKK 619 million (“Debt Facility”).
The purpose of the Debt Facility is threefold:
1) refinancing of existing banking facilities of the Company
2) financing the redevelopment of the Company’s Pulse N property (“Project”) in Copenhagen for the launch of a housing project for young professionals and students
3) enhancing the Company’s general liquidity
With this step, the Company will redeem all its short term bank loans. The Facility is a standalone loan secured by 5 of the Company’s portfolio of assets, including the Pulse N development project.
The Company has now signed a Total Enterprise Contract with Rasmus Friis A/S for the Pulse N project, which will add over 200 units to the Pulse Living Youth Housing platform. This Project is in a highly sought after area close to Nørrebro station and will be launched in 2022.
The Company was assisted in the negotiation and structuring of the Debt Facility by Catella Corporate Finance A/S in Denmark.
The Debt Facility makes an important step towards the execution of the Company’s strategy, which is focused on maintaining and enhancing its core portfolio of properties whilst undertaking selective high value-added redevelopments of key assets like Pulse Nørrebro.
For more information on the Company’s Pulse Living Youth Housing platform, please visit https://www.pulseliving.dk/ .
Pradeep Pattem
CEO
For further information, please make contact through nordicom@nordicom.dk
Company Website: www.psnas.com
Telephone Number: +45 33 33 33 93 03
