Allianz Real Estate has closed a debt transaction in Sweden with Amsterdam-listed Eurocommercial Properties by providing a SEK 690 million (€73 mln) loan for the refinancing of the Bergvik shopping centre in Karlstad.
The deal represents the first direct debt investment for Allianz Real Estate in Sweden .
'This transaction presented a good opportunity for Allianz Real Estate to close a first financing deal with Eurocommerial in Sweden and to further diversify the investment portfolio geographically,' commented Helmut Muehlhofer, head of the debt team in Munich.
The Bergvik shopping centre comprises almost 33,000 m2 and is anchored by supermarket chain Coop as well as 70 additional tenants.
Eurocommercial owned part of the asset since 2005 and acquired the fully refurbished second part late in 2015. The Euronext Amsterdam-listed company focuses on investments in France, Italy and Sweden.
DLA Piper advised the lender on legal matters and Wigge & Partners the borrowers.
