pbb, UniCredit Bank Austria AG and Westdeutsche ImmobilienBank AG provide € 132 million facility to 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 centers 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 AG.
Karolinka Shopping Centre, in Opole, with a total lettable area of approx. 70,000 m² is the dominant regional mall. Pogoria Shopping Center is a modern urban center located in Dabrowa Gornicza and has a total lettable area of approx. 36,000 m². 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."