German lender pbb Deutsche Pfandbriefbank has provided a EUR 29 mln loan to support the acquisition of Abadia retail park in Toledo, Spain, by a pan-European property fund managed by Rockspring.
German lender pbb Deutsche Pfandbriefbank has provided a EUR 29 mln loan to support the acquisition of Abadia retail park in Toledo, Spain, by a pan-European property fund managed by Rockspring.
The pbb loan for the acquisition facility was closed in February 2012. Pbb acted as arranger, agent and sole lender on the facility.
Parque Comercial Abadia is a new retail park, opened in November 2011, with 54,000 m2 of gross lettable area. It is anchored by an Alcampo hypermarket, Leroy Merlin, Media Markt and Decathlon.
'The property is well-let and the sponsor has exciting plans to further improve the asset in the future,' said Bernhard Scholz, member of the management board of pbb Deutsche Pfandbriefbank.
