Deutsche Pfandbriefbank (pbb) has provided a €78 million investment facility to AB Tewox, managed by Lords LB Asset Management. The loan will refinance six retail parks and fund the acquisition of two new retail parks across multiple Polish locations.
The portfolio consists of eight assets located in Wrocław, Głowno, Kalisz, Świdnica, Puławy, Przemyśl and two projects currently under acquisition in Poland. All properties are newly built retail parks in established retail locations with direct access to main roads and close to residential neighbourhoods. The portfolio comprises a total GLA of 64,000 sqm.
"We are pleased to support Lords LB Asset Management in the refinancing of part of their retail park portfolio in Poland and we look forward to continuing our collaboration," said Dieter Knittel, Head of CEE at Deutsche Pfandbriefbank.
Paulius Nevinskas, Manager at Tewox (Lords LB Asset Management), stated: "The completion of the refinancing transaction, and having Deutsche Pfandbriefbank as our financing partner, positions the company well for its next phase of growth and upcoming acquisitions."
Pbb acted as arranger and sole lender under the facility.
