Prime Kapital secures €20 million from Garanti BBVA for Silk District Phase 3

Prime Kapital, a leading real estate developer in Central and Eastern Europe, has secured €20 million in financing from Garanti BBVA for Phase 3 of Silk District, its flagship urban regeneration project in Romania’s second-largest city. Currently under advanced construction, the phase is already 65% sold, with structural works due for completion by end of Q3 2025, and delivery to new homeowners scheduled for Q2, 2026.
Phases 1 and 2 delivered a total of 661 high quality apartments, with 99% having been sold. Phase 3 represents a total investment of approximately €36 million and will add an additional 380 apartments, complete with integrated parking and storage units to the already delivered phases. With the completion of Phase 3, Prime Kapital will have delivered nearly 1,050 new homes at Silk District since Q3 2023, reinforcing its status as one of the most ambitious and transformative mixed-use developments in the country.
The €20 million facility, extended by Garanti BBVA – a highly regarded financial institution in Europe – marks the third residential development loan secured by Prime Kapital from the bank, following earlier financing for Avalon Estate Phase 1 and Marmura Residence, both in Bucharest. This latest funding highlights Prime Kapital’s strong track record and underscores Garanti BBVA’s ongoing commitment to supporting large-scale, high-quality developments in the region.

“At Garanti BBVA, we believe that financing impactful green projects means supporting the sustainable future of our communities. The long-standing partnership of Garanti BBVA with Prime Kapital reflects our strong commitment to environmental sustainability, urban innovation, and long-term development. We are proud to support projects that reshape cities while promoting livability, energy efficiency, and green integration”, said Bilge Demirer, Deputy General Manager, Enterprise Banking Area, Garanti BBVA.

“Advanced construction of Phase 3 at Silk District reflects our long-term commitment to building vibrant, well-planned communities”, said Maggie Kitshoff, Residential Partner at Prime Kapital. “We’re proud to deliver projects that raise the bar in residential development, in terms of design, community value and long-term sustainability”.

Silk District is set across nearly 10.1 hectares near the city centre of Romania’s second largest city and already boasts generous green spaces, integrated electric vehicle charging infrastructure, structured parking solutions, and an office and boutique retail hub, with over 23,000 m2 of GLA already delivered and operational since 2023, with tenants such as Levi9 and Coca Cola HBC Romania.
Development planning is also advancing for LOOM – The Living District in Iasi, a new sub-phase of the Silk District masterplan recently announced, with construction expected to commence in Q4 2025, planned for the Western side of the land plot. The new phase will introduce Prime Kapital’s first multi-storey parking house – an innovative structure inspired by urban design seen in Copenhagen with vertical green walls. LOOM will also feature open recreational areas including a large recreational rooftop multifunctional space, all hosted through connections to modern apartment buildings designed to further enrich the residential environment through integrated and intimate courtyards, creating many areas of discovery for the Silk Community, that will bring another 1.2 ha of green areas to Silk District in addition to approximately 1,250 new apartments.
“Our aim is to provide parking that serves the community without compromising the aesthetics or livability of the outdoor space”, said Maggie Kitshoff, a partner at Prime Kapital. “By integrating parking structures into the overall architecture, we avoid the visual clutter often caused by low-cost, surface-level parking solutions—an approach that may be cheaper but ultimately fails to serve the long-term needs of the community”.
In parallel, Prime Kapital is also progressing construction on Avalon Estate Phase 2, another hallmark project known for its gated community concept. Across Silk District Phase 3 and Avalon Estate Phase 2, the developer plans to deliver an additional 1,000 new homes, storage areas, and basement or integrated structured parking units in 2026 whilst launching construction of two more large phases in the same period.