German lender Deutsche Hypothekenbank said it is financing the Galeria Baltycka shopping centre in the Polish port city of Gdansk.
The shopping centre is owned by listed German company Deutsche EuroShop.The financing volume amounts to almost €81 mln, with Deutsche Hypo planning to retain half of it on a long-term basis.
Opened in 2007, the complex spreads across five floors, with two floors serving as a car park with around 1,000 parking spaces. The centre, managed by ECE, boasts about 200 shops.
'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, board member 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.'
