pbb Deutsche Pfandbriefbank has provided approx. 29 million in financing to support the acquisition of Abadia Retail Park in Toledo, Spain, by a pan-European property fund managed by Rockspring.
The pbb loan for the acquisition facility was closed in February 2012. pbb acted as Arranger, Agent and Sole Lender on the facility.
Parque Comercial Abadia is a new retail park, opened in November 2011, with a total GLA of 54,000 m². It is anchored by Alcampo hypermarket (Auchan), Leroy Merlin, Media Markt and Decathlon. The property is located in the north of Toledo.
Bernhard Scholz, Member of the Management Board pbb Deutsche Pfandbriefbank, commented: "We are delighted to have been able to support Rockspring in their acquisition of Abadia Retail Park. The property is well-let and the sponsor has exciting plans to further improve the asset in the future."
James Preston, Managing Director at Rockspring Iberia, commented: "I would like to take this opportunity to thank the pbb Deutsche Pfandbriefbank team for their good co-operation and effort in completing this acquisition, which we hope will be one of others to come."
Source: pbb Deutsche Pfandbriefbank