Dutch financial giant ING has provided a bilateral €64.5 mln senior term loan facility to refinance the Ogrody shopping centre in Elblag, northern Poland.
Dutch financial giant ING has provided a bilateral €64.5 mln senior term loan facility to refinance the Ogrody shopping centre in Elblag, northern Poland.
The centre is owned by CBRE Property Fund Central Europe and is managed by CBRE Global Investors.
ING acted as a sole lender on the transaction.
Originally opened in 2002 as the first shopping centre in Elblag, the mall was completely renovated in 2014 and 2015, and currently offers 41,500 m2 of retail space. It is almost fully leased.
Also in Poland, ING said it has financed the acquisition of two retail assets by TH Real Estate and Neinver.
ING has underwritten a five-year €80 mln senior term loan facility and ancillary PLN 120 mln VAT loan to finance the purchase of Factory Annopol and Factory Krakow.
Factory Annopol was originally developed by Neinver and opened in 2013. It is located in one of the most densely populated, fastest growing areas of Warsaw, with an immediate catchment of 2.2 million people. The asset offers 19,800 m2 with 102 units.
The property in Krakow comprises a 22,000 m2 Outlet Centre named Factory Krakow, and an adjoining 19,000 m2 retail park, known as Futura Park. Both are located close to Krakow International airport, just 10 minutes’ drive from the city centre. Originally developed by Neinver, the centre opened in 2011.