pbb Deutsche Pfandbriefbank will provide a 38.5-million loan to the Pradera Central & Eastern Fund. The facility will be used for the refinancing of existing debt on the 'Pasaz Lodzki' shopping center in Poland.
The transaction was closed on December 9, 2011. This is the third financing by pbb for Pradera managed funds in Poland, and the second to Pradera's Central & Eastern Fund, Pradera's specialized CEE fund.
Pasaz Lodzki shopping center is a well-established 37,000-m² shopping center in Lodz, Poland's third largest city. It is anchored by a Real hypermarket. Other main tenants include Decathlon, TK Maxx, H&M and EURO RTV AGD.
Harin Thaker, Head of Real Estate Finance International at pbb Deutsche Pfandbriefbank said: "We are delighted to be providing core senior debt financing to Pradera, a specialized investor into the retail market segment in Poland for the third occasion this year. The transaction demonstrates our continued presence in the market and pbb´s focus on core markets, core sectors and specialist clients."
Colin Campbell, Chairman of Pradera Europe, said: "We are equally delighted that pbb has closed its third loan this year to a Pradera Fund. We have always believed in relationship banking and are pleased to have this opportunity to extend our relationship with pbb".
Source: pbb Deutsche Pfandbriefbank