Westimmo provides financing for Rockspring deal in Poland

Westdeutsche ImmobilienBank (WestImmo) has announced that it provided Rockspring TransEuropean Property Limited Partnership IV with investment financing for Ferio Shopping Centre in Poland. Rockspring acquired the mall from Raiffeisen Evolution in mid-December for EUR 47 mln. The financing transaction was arranged, underwritten and completed on 14 December 2010.

Westimmo said that the third generation Ferio Shopping Centre is a prime, dominant retail scheme within the city of Konin, located in the Greater Poland Voivodeship in Central Poland. The Greater Poland Voivodeship is second in area and third in population among Poland's sixteen Voivodeships, with a population of close to 3.4 million.

The shopping centre occupies a single-level gallery of 13,700 m² GLA with 65 units, plus a DIY Castorama and a retail building including tenants as Media Markt, Jysk and Komfort as well as 1,100 parking spaces. The footfall of the centre amounts to 2 million people a year. The scheme was opened in May 2008.

Martin Erbe, head of Continental Europe at WestImmo, commented: 'WestImmo is pleased to have provided the financing to Rockspring for this transaction. WestImmo believes in the strong Polish economy and sees regional shopping centres as a good risk diversification for its Polish portfolio.'