Deutsche Hypothekenbank is financing the “Galeria Baltycka” shopping centre in Gdansk for real estate company Shopping-Center Galeria Baltycka GmbH und Co. KG sp.K. The financing volume amounts to almost €81m, of which 50% will remain with Deutsche Hypo on a long-term basis.
The shopping complex from the portfolio of Deutsche EuroShop AG opened in 2007 and covers five floors, with two floors serving as a car park with around 1,000 parking spaces. The centre boasts about 200 shops and an attractive mixture of sectors and tenants comprising international and national retailers. Thanks to its central location at a traffic hub in Gdansk, Galeria Baltycka, managed by ECE, is highly visible and easy to reach with public transportation.
“We are delighted to be able to expand our real estate portfolio in our target market Poland thanks to this attractive financing,” commented Sabine Barthauer, member of the Board of Managing Directors at Deutsche Hypo. “Gdansk is one of Poland’s largest retail locations and Galeria Baltycka has shown an above-average performance for several years now thanks to the large catchment area and excellent tenant structure.”
