Pbb, HSB to finance Valad’s Janki SC extension
pbb and HSBC have jointly underwritten an investment and development facility totaling €117m for the Valad Polish Retail Fund, which is managed by Valad Europe, part of Cromwell Property Group.
The funds will be used to refinance existing loans and as well as for a 20,000 sqm extension of the Janki Shopping Centre in Warsaw. pbb is acting as arranger, facilitator and security agent for the transaction, with the underwriting of the facility being jointly provided by pbb and HSBC. The 46,000 sqm Janki Shopping Centre was built in 1999 and currently has a tenant list that includes an Auchan hypermarket, H&M, C&A, Nike/ Adidas, CCC and Go Sport.
