pbb provides €22 million medium term credit facility to CBRE PFCEE for the refinancing of Europa Shopping Center in Bansk‡ Bystrica, Slovakia – EuropaProperty

pbb Deutsche Pfandbriefbank provided an investment facility of €22 million to CBRE Property Fund Central and Eastern Europe (CBRE PFCEE), an investment fund focusing on retail assets in Poland and Slovakia, managed by CBRE Global Investors. This is the second transaction after the refinancing of Wars Sawa Junior retail scheme one month ago. CBRE PFCEE will use the proceeds for the refinancing of the dominant “Europa Shopping Center” (Europa SC) in Bansk‡ Bystrica. pbb acted as arranger and sole lender under the facility.

Europa SC is the largest shopping centre in the Bansk‡ Bystrica region, completed in 2006 and extended in 2016. It is prominently located on the edge of the commercial pedestrian zone in the city centre of Bansk‡ Bystrica. The asset offers a gross lettable area of over 33,000 sq m in retail space spread over four floors. It is currently fully let to a mix of international and national tenants.

Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank said: “We are very pleased to support CBRE Property Fund in this Slovak retail refinancing, and we are looking forward to other transactions with them in CEE.”

Duco Mook, Head of Treasury & Debt Financing EMEA at CBRE Global Investors said: “Following the fund restructuring earlier this year, it is another important milestone to have both financings successfully closed.”