pbb Deutsche Pfandbriefbank (pbb) has underwritten an investment facility, totalling €38 million to refinance a retail park portfolio called Vendo Park in Poland for Trei Real Estate.
The portfolio consists of ten assets in middle and smaller-sized cities in Poland. All properties are predominantly newly built retail parks in very good and established retail locations with direct access to main roads and close to residential neighbourhoods. The portfolio comprises a total of 43,000 sqm gross lettable area (GLA) and has a well-diversified and strong tenant mix.
Dieter Knittel, Head of CEE at pbb, said: "We are very pleased to support Trei as one of our key clients in the refinancing of a part of their Vendo Park portfolio in Poland.”
Matthias Schultz, CFO at Trei Real Estate said: “The cross-border financing arrangement enables us to release further equity which we will employ for investments in Poland and the United States. It is not the first time pbb proved a reliable partner for us. In fact, the bank is our most important finance partner in Poland, having previously made long-term loans available to us in 2020 and 2023 toward the refinancing of certain retail properties.”
