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Credit: McArthurGlen Designer Outlet Parndorf

pbb extends a €89.7 million credit facility to a real estate fund managed by Nuveen Real Estate

pbb Deutsche Pfandbriefbank has extended an investment loan facility in the amount of €89.7 million to the European Outlet Mall Fund, a real estate fund managed by Nuveen Real Estate, one of the largest investment managers globally, for the financing of phases 1,2 and 5 of “Designer Outlet Parndorf” centre near Vienna. pbb acted as arranger, lender, agent, and security agent under the facility.

Designer Outlet Parndorf is one of the top performing factory outlet centres in Europe which was built in phases between 1998 and 2017 and is located 50 km south east of Vienna in the triangle between Austria, Hungary and Slovakia.

Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: “We are very pleased to continue financing this prime asset for Nuveen Real Estate, a strategic client for pbb for many years in major markets across Europe”

Sebastien Gorrec, Fund Manager at Nuveen Real Estate, comments: “pbb has been a strong partner for our investments in this successful market. We are pleased to continue our collaboration with them for the Designer Outlet Centre at Parndorf, one of the most dominant outlet malls in Europe.”