Westdeutsche ImmobilienBank AG (WestImmo) acting as Agent and Arranger has provided MGPA, Europe Fund III, L.P., with approx. 119.8 million financing facility for two modern shopping centers in Poland. Karolinka Shopping Center opened in 2008. It is located in Opole, near the Czech border, ca. 310 km southwest of Warsaw. It comprises over 70,000 m² of space and is let to 127 national and international retailers.
Martin Erbe, Managing Director Continental Europe at WestImmo, commented: "The acquisition of these two modern shopping centers happened in difficult times and market circumstances. It is one of the biggest investment deals in CEE in 2009 and clearly shows the recovery of the market. WestImmo together with its partners arranged and closed this transaction in a very tight time frame thanks to the professional approach of all parties and we are very happy to assist MGPA with another important financing this year."