Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, has announced that it has agreed to provide a €174 financing facility to Macquarie CountryWide Trust to finance the purchase of five shopping centers in Poland from Simon Ivanhoe. The transaction was completed on 3 July 2007.
The purchase, completed via a corporate acquisition, relates to shopping centers throughout Poland: the Turzyn Shopping Mall in Szczecin; the Borek Shopping Centre in Wroclaw; the Arena Shopping Centre in Gliwice; the Zakopianka Shopping Centre in Krakow; and the Dabrówka Shopping Centre in Katowice.
Harin Thaker, CEO Europe at Hypo Real Estate Bank International, said, "With several assets being acquired through a corporate structure in Central Eastern Europe, this transaction has highlighted a number of our strengths - including the ability to close large complex transactions in emerging markets. We look forward to working with Macquarie CountryWide Trust on future transactions as they develop a presence across the European markets."
Commenting, Steven Sewell, Chief Executive Officer of Macquarie Countrywide Trust and Division Director of Macquarie Real Estate Capital, added, "To work with the team at Hypo Real Estate Bank International on our first transaction in the European market was a great help as we were able to utilize a tremendous level of commercial experience and judgement. We are excited at the prospects that the European market offers for Macquarie CountryWide Trust, with our niche investment focus being retail assets anchored by market leading national or international brand supermarket or hypermarkets, and look forward to being able to work with Hypo Real Estate Bank International again in the future."
Source: Hypo Real Estate