BNP Paribas Bank Polska provided financing for elbfonds’ marcredo Center in Kutno. The agreement was signed this month with BNP Paribas representing the landlord. The value of the deal was not disclosed. The project provides 15,984 sqm of retail space and has a catchment area of 350,000 residents.
BNP Paribas Real Estate was appointed a strategic advisor for elbfond’s Marcredo Portfolio Fund earlier this month. The fund focuses on marcredo retail centers located in Poland’s regional cities with less than 100,000 residents. The agency will be responsible for securing investors for the fund as well as for the valuation of the marcredo retail projects. The fund consists of six retail centers located in Ciechanów, Kutno, Szczecin, Józefosław, Lubin and Poznań. Another project in Piekary Śląskie, totaling 63,000 sqm of space, is expected to be added to the portfolio in the near-term.
