pbb Deutsche Pfandbriefbank provided a facility of €68m to ECE for the refinancing of the Arkad Szeged Shopping Center in Szeged, Hungary. pbb acted as arranger and sole lender under the facility.
Arkad Szeged is the dominant shopping centre in the region and benefits from an excellent accessibility and a large catchment area. The asset was built in 2011 and offers a gross lettable area of over 42,000m². It is fully let to a well spread tenant mix. Anchor tenants include Media Markt, Interspar, C&A, New Yorker and Zara.
Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: “We are very pleased to support ECE again in CEE on this landmark building in Hungary. The deal underlines our continued strong interest in the CEE real estate markets.”
