ING jointly underwrites and funds 210m EUR refinancing of Magnolia Park Shopping Centre
ING Bank, pbb Deutsche Pfandbriefbank and PKO Bank Polski have jointly underwritten and funded a €210 million term loan facility for Magnolia Park Shopping Centre. The refinancing of the mall, which is owned by real estate funds managed by Blackstone and by Multi Poland, is one of the largest real estate financing deals to take place in Poland this year.
With a total lettable area of circa 100,000 sqm and comprising over 250 shops, Magnolia Park is the largest shopping centre in the Lower Silesia region of Poland. The mall opened in 2009 and was extended by an additional 20,000 sqm in 2015. It currently attracts more than 10 million visitors annually.
The banks were advised by Linklaters Warsaw.