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Bank club provides €260m to refinance Polish mall

Property developer Apsys has sourced a €260 million loan to refinance Posnania, its recently opened shopping centre based in Poznan, Poland's fourth largest city.

Property developer Apsys has sourced a €260 million loan to refinance Posnania, its recently opened shopping centre based in Poznan, Poland’s fourth largest city.

Posnania, Poznan

The long-term loan has been provided by four banks – Berlin Hyp, ING Bank Śląski, Société Générale and Deutsche Postbank – in one of the largest refinancing deals for commercial real estate in central Europe this year.

Berlin Hyp and ING Bank Śląski previously provided development finance for the Posnania scheme in 2014.

Apsys, which is based in France and Poland, said that footfall at the 100,000 square metres shopping centre “exceeded targets” following its opening in October 2016, after 15 million people had walked through the doors by the end of the year.

Fabrice Bansay, CEO of the property developer, said: “The long-term refinancing of Posnania is an important step for Apsys and will allow us to accelerate our ambitious five-year development plan: the creation of 300,000 square metres of iconic projects in France and in Poland.”

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