Lender pbb Deutsche Pfandbriefbank has provided the CBRE Property Fund Central and Eastern Europe (CBRE PFCEE) investment fund with a €63-million loan, which will be used to refinance the Wars Sawa Junior shopping center in downtown Warsaw. “The deal underlines our continued strong interest in the CEE real estate markets,” said Charles Balch, head of international clients, UK & CEE at pbb Deutsche Pfandbriefbank. Wars Sawa Junior comprises more than 37,000 sqm of leasable space and is currently almost fully leased out. CBRE PFCEE is managed by CBRE Global Investors and focused on retail assets in Poland and Slovakia.
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