German bank Helaba is providing a loan of EUR 51 mln to Rockspring Property Investment Managers LLP to finance the acquisition of the Alfa Centrum shopping centre in the city of Olsztyn in northeastern Poland. Helaba is the sole arranger, lender and agent for this transaction, operating through its Northern and Central Europe unit.
German bank Helaba is providing a loan of EUR 51 mln to Rockspring Property Investment Managers LLP to finance the acquisition of the Alfa Centrum shopping centre in the city of Olsztyn in northeastern Poland. Helaba is the sole arranger, lender and agent for this transaction, operating through its Northern and Central Europe unit.
The Alfa Centrum mall was completed in 2009 and is situated in the centre of Olsztyn. It comprises around 25,000 m2 and is fully let.
Rockspring acquired the property from Arka Property Funds on behalf of a separate account client. The transaction follows a number of purchases by Rockspring in Central and Eastern Europe in recent months, including the Atrium International Business Center in Warsaw, and Olympia shopping centre in Brno, Czech Republic, which was acquired in a joint venture. Both these assets were acquired on behalf of separate account clients.
'The sale of this unique asset is the next step of the planned liquidation of the Arka BZ WBK Property Market Fund Portfolio,' said Agnieszka Jachowicz, managing director of Arka Property Funds. Knight Frank acted for Rockspring. Balmain Asset Management was appointed as the asset manager.
Rockspring focuses on the acquisition and management of properties in the UK and Continental Europe for institutional investors. It currently manages assets of EUR 7.5 bn.
