German bank provides financing for retail portfolio in Poland

pbb Deutsche Pfandbriefbank provided EUR 51 million to Trei Real Estate, the real estate venture of the Tengelmann Group, for the financing of a retail portfolio in Poland.

The portfolio comprises of 40 supermarkets across 38 cities in well-established urban locations in Poland, which are all fully let to Biedronka with a long-term lease. Biedronka is the largest supermarket chain in Poland with more than 3,000 stores mainly selling local Polish products. All properties were constructed between 2006 and 2014 and are in good condition.

pbb Deutsche Pfandbriefbank states in its website that it is “a leading European specialist bank for real estate financing and public investment finance.”

(WBJ)