Prime Kapital secures a Euro 85.5 million refinancing facility from Erste Group, for Arges Mall

Prime Kapital, Romania’s leading real estate developer, investor and operator, has secured a EUR 85.5million refinancing facility from Erste Group Bank AG (“Erste Group”) for Arges Mall, the leading retail and lifestyle destination in Pitesti, the capital of Arges County in southern Romania.
Developed by Prime Kapital and opened in April 2024 with over 51,000 sq.m of gross leasable area, the regional mall showcases the latest retail concepts with a diverse tenant mix comprising over 150 shops and restaurants, including a modern food court with a panoramic terrace overlooking Lake Prundu.

“Erste Group is proud of the fact that by cooperating with Prime Kapital as their financing partner, we have contributed to realizing a state-of-the-art shopping destination for the people of Pitești and the broader Arges region,” underlines Roman Kubanyi, Industry Lead responsible for Commercial Real Estate at Erste Group.

“Prime Kapital has enjoyed working with the Erste team. Their professionalism has culminated in a facility which is a further endorsement of Arges Mall as a shopping and entertainment destination which has redefined the standards of modern retail in the region”, added Andrew Bird, Partner at Prime Kapital.

Arges Mall caters to a catchment area of over 640,000 people, benefitting from robust economic activity, including Renault’s Dacia plant, the largest Renault factory outside of France. The mall is centrally located in a densely populated residential area in Pitesti, next to the main train station and the main boulevard and is easily accessible from the E81/A1 highway which links Bucharest with north-western Romania.
Argeș Mall is an urban regeneration project which successfully converted a former industrial area of approximately 13 hectares into a retail hub with public amenities. The development included significant investment in public infrastructure, including a generous park together with pedestrian and car connections between the Tudor Vladimirescu neighbourhood and the rest of the city, significantly benefiting the local community.
The mall has been awarded Edge Advanced green certification, evidencing Prime Kapital’s commitment to the environment.