pbb Deutsche Pfandbriefbank has agreed a €87 mln medium-term facility for Village de la Peronne SAS, a 100% subsidiary of the Simon Property Group and McArthurGlen. The facility will be used to partially finance the construction costs and related VAT of the Designer Outlet Provence, a 24,500 m² outlet center to be developed in the city of Miramas, south of France. The transaction closed in July 2015.
The 24,500 m² outlet centre to be developed by McArthurGlen is located in the heart of the Bouches-du-Rhone region, less than an hour-drive to the largest cities and important touristic towns in the region including Aix-en-Provence, Marseilles, Nimes, Avignon, and Arles. The centre will offer over 120 boutique shops and 7 restaurants and cafes in a village like setting. The layout will feature piazzas filled with world’s top luxury brands, pedestrian friendly walkways, tree-lined streets, a water features and fountains, restaurants and cafes with open-air seating areas, and a children’s playground.
The centre will be built to the high environmental specifications, and will be certified as BREEAM (Building Research Establishment/BRE Environmental Assessment Method) “very good”.
Source: pbb Deutsche Pfandbriefbank
