In its capacity as agent, arranger, and sole underwriter, Helaba is financing the centrally located “Wars Sawa Junior” for Atrium European Real Estate Limited. The German Landesbank is providing a loan in an amount of EUR 170 million, with a term of eight years for the acquisition.
The well-established shopping center is located in the heart of the capital, Warsaw, and was opened in the early 1970s, making it Poland’s first department store. It has become one of the best-known malls thanks to continuous modernization and numerous expansions. The property is situated in a prime location, at the intersection of the most important metro stations in the center of Warsaw, directly opposite the Palace of Culture.
Approximately five million people pass the property every month. The shopping center comprises 26,000 sq m of retail space, which is fully leased on a long-term basis to prestigious brands such as H&M, C&A, CCC, TK Maxx, and Zara. It also offers 11,000 sq m of office and storage space.
Helaba will syndicate part of the EUR 170 million and, thereby, pursue its strategy of consistent outplacement. The property also complements Helaba’s high-caliber portfolio in a key target market of Europe.
Purchase Price: EUR 301.5 million
On October 24, 2018, Atrium announced that it had completed the purchase of the Wars Sawa Junior for EUR 301.5 million. Liad Barzilai, Chief Executive Officer of Atrium Group, commented: “As one of the most popular and well-established retail centers in Poland, and with an annual footfall of over 60 million in and around the asset, Wars Sawa Junior is a fantastic addition to our portfolio. In line with our strategy for quality growth, this acquisition further strengthens our portfolio weighting towards both the strongest Central European economies of Poland and the Czech Republic, and towards larger-scale retail centers that dominate their local catchments in thriving urban areas.”
Helaba is a German Landesbank headquartered in Frankfurt and Erfurt, with locations in important financial centers worldwide. As a balance sheet lender with a sustainable business model, real estate business is focused on commercial properties in Germany, Europe, and the US. Helaba began its business operations in Central Eastern Europe in 2006. The bank finances office, retail, and logistics properties in Poland, the Czech Republic, and Slovakia for institutional investors.