Deutsche Hypo writes €81m loan for Polish shopping centre

The package, with a maturity of around 10 years, has been provided to real estate company Shopping-Center Galeria Baltycka, owned by Deutsche EuroShop.

Deutsche Hypothekenbank has written a €81 million debt facility to finance the Galeria Baltycka shopping centre in Gdansk, Poland.

The package, with a maturity of around 10 years, has been provided to real estate company Shopping-Center Galeria Baltycka, owned by Deutsche EuroShop. The firm, claimed to be the largest German investor in shopping centres, bought Galeria Baltycka in March for €382 million.

The German bank has retained 50 percent of the financing and syndicated the rest, it said.

“Gdansk is one of Poland’s largest retail locations and Galeria Baltycka has shown an above-average performance for several years now thanks to the large catchment area and excellent tenant structure”

– Sabine Barthauer

The retail complex opened in 2007 and covers five floors, with two serving as a car park containing around 1,000 parking spaces. The centre has about 200 shops and a mix of sectors and tenants comprising international and national retailers.

“Gdansk is one of Poland’s largest retail locations and Galeria Baltycka has shown an above-average performance for several years now thanks to the large catchment area and excellent tenant structure,” said Sabine Barthauer, member of the board of managing directors at Deutsche Hypo.