pbb and CENFE finance €56.6 mln tranche for a retail portfolio acquisition by OPCI PREIM Retail 1 (FR)

pbb Deutsche Pfandbriefbank and Caisse d'Epargne Nord France Europe (CENFE) have partly financed the acquisition of a French retail portfolio by OPCI PREIM Retail 1, managed by Primonial REIM. The loan amounts to €56.6 million.

pbb acted as Mandated Lead Arranger and is the Security and Facility Agent. Caisse d'Epargne Nord France Europe acted as Arranger. The transaction closed on August 2, 2012. The acquired portfolio, from Mercialys, consists of 10 shopping galleries totaling 64,080 m² of retail space.

The properties are spread across France. The assets are let to 213 tenants, including anchor tenants such as Casino Restauration, Brico Dépot and Feu Vert.

Dr. Bernhard Scholz, Member of the Management Board at pbb Deutsche Pfandbriefbank, commented: "Primonial REIM is a key target client for our bank. We are delighted to have been able to support the acquisition of these retail properties, together with the support of Caisse d'Epargne Nord France Europe."

Pascal Arnoult, Member of the Executive Board of Caisse d'Epargne France Northern Europe (CENFE), said: "We are delighted to see two banks, French and German, participating together in this important financing. The CENFE is proud to have been chosen as a partner in this club deal by pbb Deutsche Pfandbriefbank and by Primonial. The CENFE is a bank with a strong regional focus, which has shown its ability to find first class partnerships to facilitate economic development."

Source: Deutsche Pfandbriefbank AG

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