Valad secures €117 mln for Centrum Janki expansion

Valad Polish Retail Fund, managed by Valad Europe, has  secured a €117 million loan for the 20,000 sqm expansion of the Centrum Janki commercial center on Warsaw's outskirts. The loan has been underwritten jointly by Pbb and HSBC. "Centrum Janki occupies a prime location in an established retail destination, south of Warsaw. The decision to invest in Centrum Janki was based on its dominance of the local market as well as the improved accessibility provided by new infrastructure," said Karol Pilniewicz, Valad Europe’s CEE director. The 46,000 sqm GLA center will be expanded by 20,000 sqm, thus 83 units and 2,843 parking space will be added. Centrum Janki was opened in 1999.