TH Real Estate, Neinver secure financing for Poznań outlet center

Acting on behalf of a joint venture set up by developer Neinver and financial services organization TIAA, real estate investment management company TH Real Estate and Neinver have secured a total of €344 million in bank financing for five outlet centers across Europe, including for Factory Poznań in Poland. In November last year, the joint venture signed a preliminary agreement for the acquisition of a portfolio of six outlet centers from the IRUS European Retail Property Fund, which is co-owned and managed by Neinver, for a total of more than €700 million. Three “The Style Outlets”-branded outlet centers in Spain, two “The Style Outlets”-branded outlet centers in Italy and the Factory Poznań outlet center in Poland were the subjects of the transaction. The financing has been granted to the three Spanish centers, the Polish center and one of the Italian centers. Factory Poznań, which offers 14,200 sqm of leasable space, obtained funds from a consortium led by ING Bank.

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