pbb Deutsche Pfandbriefbank has agreed a € 120 million medium-term acquisition facility for the EPISO 3 fund, advised by Tristan Capital Partners. The proceeds will be used to acquire a portfolio of five shopping centers in Poland from Charter Hall Retail REIT. The transaction signed in June 2013.
The fund, European Property Investors Special Opportunities 3, will purchase four malls located in different cities in southwest Poland, including the country’s second-largest city of Krakow. The fifth shopping center is located in Szczecin, northwest Poland. The five centers are located in affluent and densely populated neighborhoods in each of these Polish cities and are well let to a strong mix of national and international tenants. All five centers are anchored by hypermarkets owned separately by Carrefour, although these are not part of the transaction.
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb Deutsche Pfandbriefbank, said: "Poland remains the major investment market within the CEE region. pbb Deutsche Pfandbriefbank is pleased to support Tristan Capital Partners in this significant Polish retail transaction. Tristan and pbb have already worked together on a number of transactions in recent years in a number of European markets.”
Source: pbb Deutsche Pfandbriefbank