German lender pbb Deutsche Pfandbriefbank has agreed a €87 mln medium-term facility for Village de la Peronne, a wholly owned subsidiary of Simon Property Group and McArthurGlen.
German lender pbb Deutsche Pfandbriefbank has agreed a €87 mln medium-term facility for Village de la Peronne, a wholly owned subsidiary of Simon Property Group and McArthurGlen.
The facility will be used to partially finance the construction costs of the Designer Outlet Provence, a 24,500 m2 outlet center to be developed in the city of Miramas, south of France.
McArthurGlen will develop the scheme, which will offer over 120 boutique shops and seven restaurants and cafes in a village like setting.
The centre will target BREEAM very good environmental rating.
'pbb Deutsche Pfandbriefbank is very pleased to support McArthurGlen and the Simon Property Group for the development of such a remarkable project in the South of France. pbb can look back on several financing transactions for outlet centers across Europe and we are looking forward to engage in similar projects,' said Norbert Müller, head of real estate finance continental Europe West at pbb Deutsche Pfandbriefbank.
