pbb Deutsche Pfandbriefbank, Helaba and ING Bank have jointly underwritten an increase to an investment facility, totalling €67 million, to refinance Focus Mall Zielona Gora in Poland.
This facility is in addition to a €164 million facility granted by the same banking consortium in 2016, for the Karolinka, Pogoria and Platan Shopping Centres in Poland. The assets are owned by Rockcastle Global Real Estate Company Limited. The transaction closed in February 2017.
pbb Deutsche Pfandbriefbank, Helaba and ING Bank are acting as Joint Lead Arrangers providing equal portions of the funding, with pbb acting as facility and security agent of the transaction.
Opened for trading in 2008, the 28,800 sqm GLA with over 100 retail and service units Focus Mall is the largest and most recognized retail destination in the city of Zielona Gora. Zielona Gora, also known as the Wine Borough, is the capital of ubuskie voivodeship located by the crossroads of international expressways and rail routes connecting Scandinavia with the southern part of Europe and Warsaw with Berlin.
With an annual footfall of over 5.2 million, Focus Mall is the most frequently visited retail property in the region populated by 250,000 people. The shopping centre is tenanted by strong retailers including Bershka, CCC, Cinema City, H&M, Reserved and Rossmann.
The site allows for a shopping centre GLA extension of at least 12,000 sqm which is driven by high tenant and customers demand.
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