Bank Pekao has completed a refinancing project of over €10 million. The refinanced product was a retail parks portfolio owned by Newbridge Poland. The investor was advised in this process by the Avison Young investment team.
The retail parks comprising the refinanced portfolio are modern and popular facilities located in Namysłów (17A Bohaterów Warszawy St.), Włocławek (2B Komunalna St.) and Grodzisk Mazowiecki (48 Królewska St.). They offer a total leasable area of approximately 13,000 sqm, which is almost entirely leased to such strong tenants as, among others, CCC, Pepco, Rossmann, RTV Euro AGD, KiK, Martes Sport or Deichmann, for long-term lease agreements. The facilities are managed by an experienced manager specializing in this market sector. Retail parks are currently one of the most sought-after assets on the Polish real estate market.
“We are very pleased with the financial performance of the entire portfolio. We have been building it gradually, modernising and always taking care of the appropriate selection of tenants to provide customers with a wide range of products and services. We are happy that the portfolio has gained recognition of Bank Pekao,” comments Barbara Wojdełko, Director at Newbridge Poland.
“The retail parks which are a subject of refinancing are very well located and established in local communities points of purchase. Observing the situation in the real estate market during the pandemic and the resilience of this type of property to COVID-19 restrictions, we are pleased to provide refinancing for this investment,” says Beata Peryt, Director at the Commercial Property Finance Department of Bank Pekao S.A.
“Retail parks are one of the hottest investment products on the commercial real estate market in Poland. Therefore, the process of obtaining refinancing for the portfolio ran very smoothly, also thanks to the exemplary cooperation between the investor and the bank,” comments Michał Ćwikliński, Principal, Managing Director at Avison Young in Poland.
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