Pbb confirms financing for Herald's Baden-Baden mall

Pbb Deutsche Pfandbriefbank has confirmed it is extending a €38 mln medium-term facility for Shopping Cité in the German city of Baden-Baden.

Shopping Cité shopping centre is owned by Henderson Global Investors' European retail fund, Herald.

Earlier, Henderson reported that it had secured €100 mln in financing from Deutsche Pfandbriefbank and Morgan Stanley for three shopping centres: Shopping Cité (25,000 m2); City Centre mall (18,000 m2) in Hanau, near Frankfurt and Metropolis Shopping Centre (25,800 m2) in the Italian city of Cosenza.

Henderson did not give a breakdown at the time of the lending volume per asset or the volume per lender.

Herald is a €900 mln pan-European retail property fund managed by Henderson.