pbb and Unicredit Bank Austria AG refinance CEE portfolio for AICEPF (DE/UK/AT)
Wednesday 20 June 2012
pbb Deutsche Pfandbriefbank and UniCredit Bank Austria AG have jointly underwritten a €148 million senior facility to refinance an office, logistics and retail portfolio across Central and Eastern Europe.
The portfolio is owned by Aviva Investors Central European Property Fund (AICEPF). The transaction was closed on June 6, 2012. pbb is acting as agent of this financing transaction, with the underwriting of the facility being provided by pbb and UniCredit Bank Austria in equal shares.
The portfolio consists of 12 assets, with a focus on office buildings in Poland and the Czech Republic: six office buildings located in Warsaw, Katowice and Prague, as well as four logistics assets and two retail properties. The total lettable area is approx. 196,000 m². It is well leased to predominantly international tenants and is recognized as one of the premier mixed-use real estate portfolios in Central and Eastern Europe.
Charles Balch, Head of Real Estate Finance International at pbb Deutsche Pfandbriefbank speaking for the syndicate said: "This is one of the biggest pan-CEE refinancing transactions in 2012 and indeed for some considerable time. We are proud to have worked with our partner UniCredit Bank Austria in a club deal to provide our esteemed client Aviva Investors with this financing solution for the AICEPF portfolio.”