Investment fund Equest Balkan Properties has finalized the restructuring of the loans held by the local firms in its portfolio which own Vitantis retail center in Bucharest and Moldova Mall in Iasi. The two mortgage debt restructurings totaled EUR 63.6 million with Unicredit Bank Austria and Unicredit Tiriac Bank. “Vitantis SRL has received funding of EUR 5.1 million to cancel the interest rate swap obligations of both Vitantis SRL and Rivium Galleria Mall SRL and to refinance interest accruals at Rivium Galleria Mall SRL,” according to EBP. The financial covenants have been relaxed and a term extensions until 31 December 2012 have been achieved. As a result of the restructuring, both debt facilities return to performing loan status, said the fund.

The fund also owns Equest Logistics Center, Jules Michelet offices, Domenii and Casa Mosilor offices, Otopeni airport offices and a retail site in Ploiesti.