Deutsche Pfandbrief provides EUR 38.5m for Pradera fund

German lender pbb Deutsche Pfandbriefbank has provided a EUR 38.5 mln loan to the Pradera Central & Eastern Fund.

The facility will be used to refinance existing debt on the Pasaz Lodzki shopping centre in Poland. It is the third financing by pbb for funds managed by Pradera in Poland, and the second to Pradera's specialised CEE fund.

Pasaz Lodzki is a 37,000 m² mall in Lodz, Poland's third-largest city. It is anchored by a Real hypermarket.

'The transaction demonstrates our continued presence in the market and pbb's focus on core markets, core sectors and specialist clients,' said Harin Thaker, head of Real Estate Finance International at pbb Deutsche Pfandbriefbank.