Bank consortium refinances Polish malls

Lenders pbb Deutsche Pfandbriefbank, UniCredit Bank Austria and Westdeutsche ImmobilienBank have provided a €132 mln senior loan to refinance the Karolinka and Pogoria shopping centres in Southern Poland.

The portfolio is owned by BlackRock Europe Property Fund III. The transaction closed in January 2014.

pbb is acting as arranger, facility and security agent of this transaction, with the underwriting of the facility being jointly provided by the three banks.

Karolinka Shopping Centre in Opole has a total lettable area of 70,000 m2. Pogoria Shopping Center is a modern urban centre located in Dabrowa Gornicza and offering 36,000 m2 of space.

Both assets were built in 2007 and acquired in 2009.