pbb, UniCredit Bank and Westdeutsche refinance the Karolinka and Pogoria shopping centers in Poland
pbb Deutsche Pfandbriefbank, UniCredit Bank Austria AG and Westdeutsche ImmobilienBank AG (maintaining its exposure to the financing) have jointly underwritten a €132 million senior facility to refinance two shopping centres in Southern Poland. The portfolio is owned on behalf of BlackRock Europe Property Fund III. The transaction
closed in January 2014.
pbb is acting as arranger, facility and security agent of this transaction, with the underwriting of the facility being jointly provided by pbb, UniCredit Bank Austria AG and Westdeutsche ImmobilienBank
Karolinka Shopping Centre, in Opole, with a total lettable area of 70,000 sqm is the dominant regional mall. Pogoria Shopping Center is a modern urban centre located in Dabrowa Gornicza and has a total lettable area of 36,000 sqm. Both assets were built in 2007, acquired in 2009 and are well let to well known high-street brands.
Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank speaking for the syndicate, said: "We are pleased to have worked with our partners UniCredit Bank Austria AG and Westdeutsche ImmobilienBank AG to support the financing of these quality assets. We are delighted to start 2014 showing the same high level of success as in previous years.”