Helaba to finance acquisition of Wars Sawa Junior for €170 million
In its capacity as agent, arranger and sole underwriter, Helaba is financing the centrally located shopping centre “Wars Sawa Junior” for Atrium European Real Estate Limited. The German Landesbank is providing a loan of €170 million with a term of eight years for the acquisition.
The well-established shopping centre is located in the heart of the capital Warsaw and was opened in the early 1970s, making it Poland's first department store. It has become one of the best-known shopping centres thanks to continuous modernisation and numerous extensions. The property is situated in a very good location at the intersection of the most important metro stations in the middle of Warsaw, directly opposite the Palace of Culture. About five million people pass the property every month. The shopping centre comprises 26,000 sqm of retail space, which is fully let on a long-term basis to prestigious brands such as H&M, C&A, CCC, TK Maxx and Zara. It also offers 11,000 sqm of office and storage space.
The sponsor Atrium European Real Estate Limited was founded in 1997 and is one of the largest owners and managers of shopping centre portfolios in Poland and Central Europe.
Helaba will syndicate part of the €170 million and thus pursue its strategy of consistent outplacement. The prestige property also complements Helaba's high-calibre portfolio in a key target market of Europe.