Bank Pekao, in collaboration with Berlin Hyp AG granted a €125 million investment loan to Promenada Shopping Mall. Pekao is also acting as the Loan and Security Agent for the transaction.
The shopping mall boasts good performance history in the Warsaw market, supported by its strategic location on the right bank of the Vistula River, as well as the expertise and experience of the sponsor (G City Europe (formerly Atrium European Real Estate)) and the team on the ground. The immediate catchment area of Promenada, reachable within 20 minutes, encompasses over a million people and includes several Warsaw districts and satellite towns.
This year, the asset underwent a significant modernization, resulting in the addition of around 13,200 sqm of new retail space to the centre, further expanding its retail offering. The shopping centre is now nearly fully leased.