Lenders pbb Deutsche Pfandbriefbank and Unicredit Bank Austria have provided a €120 mln senior acquisition facility to Lone Star to finance the acquisition of a mixed-use real estate portfolio across four countries in Central Europe.
Lenders pbb Deutsche Pfandbriefbank and Unicredit Bank Austria have provided a €120 mln senior acquisition facility to Lone Star to finance the acquisition of a mixed-use real estate portfolio across four countries in Central Europe.
Pbb and UniCredit Bank Austria are acting as joint arrangers and lenders, pbb also has the role of facility agent.
The portfolio consists of office buildings predominantly located in Warsaw and Prague, as well as retail and industrial assets in Poland, the Czech Republic, Slovakia and Hungary.
The acquisition was carried out by Lone Star Real Estate Fund III from a fund managed by Aviva Investors.
'This is another fine example of a pan-CEE portfolio financing, which only a limited number of financiers are able to arrange. We are looking forward to doing more business with Lone Star in CEE and indeed across Europe,' said Charles Balch, head of international clients, UK & CEE at pbb Deutsche Pfandbriefbank.
Lukasz Motyl, head of real estate CEE at UniCredit Bank Austria, added: 'Central Eastern Europe is our key market: we are the largest bank in the region in terms of total assets and we serve our clients in all the 13 geographies in which we have a local bank.'
