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Aareal Bank AG and pbb Deutsche Pfandbriefbank provide € 190 million financing to support ECE fund and Resolution Property acquisition of Poznan City Center in Poland

Aareal Bank AG and pbb Deutsche Pfandbriefbank have jointly underwritten a € 138 million senior acquisition facility and a € 52 million VAT facility to finance the acquisition of Poznan City Center in Poland by ECE European Prime Shopping Centre Fund and Resolution Property from a consortium of Europa Capital, Trigranit Development and PKP S.A.

Wiesbaden, Munich, 11 March 2014 - Aareal Bank AG and pbb Deutsche Pfandbriefbank have jointly underwritten a € 138 million  senior acquisition facility and a € 52 million VAT facility to finance the acquisition of Poznan City Center in Poland by ECE European Prime Shopping Centre Fund and Resolution Property from a consortium of Europa Capital, Trigranit Development and PKP S.A. The transaction was closed on March 11th, 2014. Aareal Bank AG and pbb Deutsche Pfandbriefbank are acting as Joint Arrangers; in addition Aareal Bank AG carries out the role as the Facility Agent and the Security Agent.

Located in Poznan, Poland’s 5th largest city, Poznan City Center comprises of 58,000 square meters. The property is currently almost 90 percent leased.

“Aareal Bank AG and pbb Deutsche Pfandbriefbank were delighted to work with ECE and Resolution Property. We would like to thank also the vendors and all advisors”, said Karl Wilson, Managing Director for the Central European Business at Aareal Bank.

"We are pleased to be able to support our clients Resolution Property and ECE in this acquisition in Poland, one of our core markets” added Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank.

 

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