The investor Impress has secured financing for Centrum Kowale, a PLN 34m shopping mall it’s developing. The real estate agency AXI IMMO says the loan is being provided by the Polish lender Powiślański Bank Spółdzielczy, which is associated with Bank Polskiej Spółdzielczości. The PLN30m loan will make it possible for Impress to complete the construction of the project. AXI Immo adds that the financing will improve the mall’s chances of pulling in tenants for whom the the financial security of the development is paramount. The scheme is being developed in the center of Kowole, a town near Gdansk in the north of Poland. Scheduled for completion at the end of 2012, it will provide 6,000 of new retail and office space, and is the first convenience project in the area. Among the anchor tenants are a Tesco hypermarket.
