Poland: BSJP Recent Deals
1. Helaba Landesbank Hessen-Thüringen - Financing of two office buildings
Helaba Landesbank Hessen-Thüringen financed two office buildings in Poland for separate real estate funds of Deka Immobilien Investment GmbH with a total loan volume of approx. € 34 million.
The property located in Warsaw is the Dom 50 A&B building in the Mokotów district with a floor area of 16,000 m², the other asset is the ARTUS Park in Gdansk with a lettable area of 9,300 m².
Helaba acted as Lender, Arranger and Agent through the "Northern and Central Europe" unit of its International Real Estate Finance division.
The adviser to Helaba Landesbank on this transaction was Katarzyna Domanska-Moldawa, partner from BSJP, who specialises, among others, in financing transactions in the real estate market.
2 . BRE Bank SA - Financing of shopping centre
The subsidiary of P.A. Nova SA, Galeria Kluczbork Sp. z o.o., entered into a loan agreement with BRE Bank SA to co-finance the construction of Galeria Miodowa Shopping Centre in Kluczbork. The investment loan was granted up to the amount of € 7 million, which will not exceed 70 percent of the project costs. The agreement also provides for a revolving loan of up to PLN 4 million, which exceeds 10 percent of P.A. Nova’s equity. The Board of Directors undertook to repay the loan by September 2017.
Situated in northern Kluczbork, the Galeria Miodowa Shopping Centre will have an area of more than 12 thousand square metres. The complex comprises a shopping park occupying ca. 4 thousand square metres of the shopping area and a passage with an area of 8.5 thousand square metres. The opening of the Shopping Centre is scheduled to take place in August 2012. Currently, ca. 90 percent of the Galeria Miodowa Shopping Centre are commercialised.
The advisers to BRE Bank SA on this transaction were Katarzyna Domanska-Moldawa and Piotr Jurczak, partners from BSJP. BSJP Brockhuis Jurczak Prusak Sp. k. Law Office specialises, among others, in financing transactions in the real estate market.
3. PBB DEUTSCHE PFANDBRIEFBANK and UNICREDIT BANK AUSTRIA AG
Pbb Deutsche Pfandbriefbank and UniCredit Bank Austria AG have jointly underwritten a € 148 million senior facility to refinance an office, logistics and retail portfolio across Central and Eastern Europe. The portfolio is owned by Aviva Investors Central European Property Fund (AICEPF). The transaction was closed on 6 June 2012. pbb is acting as agent of this financing transaction, with the underwriting of the facility being provided by pbb and UniCredit Bank Austria in equal shares.
The portfolio consists of 12 assets, with a focus on office buildings in Poland and the Czech Republic: 6 office buildings located in Warsaw, Katowice and Prague, as well as 4 logistics assets and 2 retail properties. The total lettable area is approx. 196.000 m². It is well leased to predominantly international tenants and is recognized as one of the premier mixed-use real estate portfolios in Central and Eastern Europe.
The adviser to pbb Deutsche Pfandbriefbank and UniCredit Bank Austria on this transaction wasdr Katarzyna Domanska-Moldawa, partner – attorney-at-law at BSJP Sp. k.
BSJP Brockhuis Jurczak Prusak Sp.k. specialise, among others, in financing transactions in the real estate market, and pbb Deutsche Pfandbriefbank is one of their regular clients.
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