Project Keystone (EBRD-49855)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Croatia
  • Hungary
  • Slovakia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 20, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
KEYSTONE CEE SCSP
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 32.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 28.6 million.
Converted using 2018-12-20 exchange rate.
Project Cost (USD)
$ 400.98 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 350 million.
Converted using 2018-12-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 12, 2019

Disclosed by Bank Dec 20, 2018


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Project Description

This project invests in Keystone CEE SCSp which owns an existing portfolio of office assets and development land plots in Central and Eastern Europe. The EBRD's funding will be used for the acquisition and development of assets located in Hungary, Slovak Republic and Croatia. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Keystone is a newly established entity for the purpose of acquiring a portfolio of prime operating office assets and development land plots in Central and Eastern Europe. Keystone is managed by affiliates of Revetas Capital Advisors LLP, a specialist real estate investment advisor focusing on the CEE region.

Contact Information

Revetas
info@revetas.com 
+44 203 931 42 97

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.