ACROSS | The European Retail Real Estate Magazine

Investment

Apsys refinances Posnania

Image: Apsys

Apsys has secured the long-term refinancing of Posnania with Berlin Hyp AG, ING Bank Śląski S.A., Société Générale, and Deutsche Postbank AG.

This refinancing, amounting to €260 million in total, is one of the largest ever granted in commercial real estate in Central Europe.

The project’s initial financing during the development phase in 2014 already set a record in this area. Posnania, the 100,000-sq-m GLA shopping center opened in October 2016 in Poznan, should welcome 15 million visitors by the end of the year, a result that has exceeded targets.

“The long-term refinancing of Posnania is an important step for Apsys and will allow us to accelerate our ambitious five-year development plan: the creation of 300,000 sq m of iconic projects in France and in Poland, in line with Manufaktura, Beaugrenelle, and Posnania,” said Fabrice Bansay, CEO of the Apsys group.

In this transaction, Apsys and Foncière Euris, respective owners of 73% and 27% of Posnania capital, were advised by Stepling and the law firm Dentons; Linklaters represented the banking consortium Berlin Hyp AG, ING Bank Śląski S.A., Société Générale, and Deutsche Postbank AG.

Follow ACROSS

Download

fb-art 150

Share this article
Investment

Why Polish People Love Click & Collect

EPP is the leading owner of malls in Poland. CEO Hadley Dean emphasizes the importance of the correct weighting of online shopping competition.

Change of Ownership at Trnava City Arena

The acquisition of Trnava City Arena in Slovakia has been recently completed. Peter Korbačka acquired the shopping center from Vladimír Poór. Negotiations lasted for nearly a year. The price as well as other transactional details have not been disclosed and remain subject to business privacy. However, this is one of the country’s most important retail segment transactions of the year.

Almada Fórum in New Hands – Merlin Properties in a Buying Mood

JLL, acting for Blackstone, has completed the sale of Almada Fórum, from the Rio Tejo retail portfolio, to Merlin Properties. The portfolio originally comprised three prime shopping centers and a retail park.

TH Real Estate launches next platform for German retail

Marcus Mack, from TH Real Estate, believes that the country’s retail market is more active than ever before. As a result, he and his team have recently set up a new Germany-focused retail vehicle. With a target portfolio size of €400 million, it has a proposed term of 10 years, with a two-year renewal option.

First Crowdfunding Offer at a Mall in Austria

The Home Rocket crowdfunding platform has been activated on behalf of the ece in Kapfenberg, Styria. Its objective is to contribute to the financing of a health care area in the shopping center.

Adjustment in pricing levels expected

According to Adam Pearce, Managing Partner at Kintyre, the currently inflated investment market for retail assets is not substantiated by the underlying trading environment for traditional brick-and-mortar retailers.