Investment firm Rivus Secures €400 Million Commercial Loan for Mall Development in Romania
Rewritten Article:
doling out a grand sum of €190.3 million, the European Bank for Reconstruction and Development (EBRD) has greenlit the financing for a mind-blowing real estate endeavor in Cluj-Napoca, dubbed the Rivus project.[2][3] This endeavor, with Iulius and its foreign partner Atterbury each owning 50%, is part of a larger club loan worth €400.6 million.[3]
The funding, a blend of committed (€180.3 million) and uncommitted (€10 million) portions, will help transform the site of the Carbochim factory into a smorgasbord of retail, cultural, office, entertainment, service, park, and relaxation spaces.[4] The overarching investment for this project is a staggering €500 million.[4]
When complete, this real estate gem will boast the largest retail zone in Romania, a whopping 145,000 sqm, encompassing not only a 120,000 sqm mall but also complementary retail facilities.[4] More than 400 stores will set up shop, with several regional and national premiers making their debut, as well as over 30 new concept restaurants and cafes.[4]
(Image courtesy of the company)
Connect with iulian@our website
Let's break it down: the EBRD has sanctioned a senior secured loan of up to €190.3 million, with €180.3 million already committed and an uncommitted €10 million, aimed at funding the development of a mixed-use urban regeneration project in Cluj-Napoca, Romania.[2][4] This funds predominantly fall under two categories—the "A Loan" portion accounting for €122.8 million directly provided by the EBRD—and a "B Loan" portion of up to €57.5 million from commercial lenders working in synchrony with the EBRD.[2] This loan is part of a broader financing package, totaling €400.6 million, that involves parallel lenders.[2]
The location for this breathtaking venture is Cluj-Napoca, a major urban center in Romania, where the real estate sector has its sights set on urban regeneration through mixed-use development.[5] As per the Environmental and Social Policy of the EBRD, this project is classified under the "B" category.[5]
The specific timelines for this project are yet to be disclosed, but the support from the EBRD will help breathe new life into the infrastructure, fostering the growth of commercial and residential spaces in the area.[5] The main point of contact for this project is Raluca Munteanu of Iulius Mall, who is associated with Rivus Investments.[5]
[1] https://www.ebrd.com/news/2025/rivus-investments-to-receive-senior-secured-loan-to-develop-mixed-use-urban-regeneration-project-in-cluj-napoca.html[2] https://www.reit.ro/2025/04/29/ebrd-participates-in-cluj-napoca-real-estate-project-through-190-3-million-loan/[3] https://www.romania-insider.com/ebrd-participates-in-cluj-napoca-real-estate-project-through-190-3-million-loan/[4] https://www.romania-insider.com/cluj-napoca-rivus-project-will-have-largest-retail-area-in-romania/[5] https://en.wikipedia.org/wiki/Rivus_Investments
- The European Bank for Reconstruction and Development (EBRD) has approved financing for the Rivus project in Cluj-Napoca, Romania, with a senior secured loan of up to €190.3 million, part of which is aimed at financing the Carbochim factory regeneration project.
- The financing for the Rivus project, worth €190.3 million, is a collaboration between the EBRD and commercial lenders, with the EBRD providing €122.8 million and the remaining €57.5 million coming from commercial lenders.
- The finance obtained from the EBRD will help in the regeneration of the Carbochim factory site, transforming it into a mix of retail, cultural, office, entertainment, service, park, and relaxation spaces, all part of the Rivus project in Romania.
