pbb Deutsche Pfandbriefbank provide €38mn for a retail park portfolio in Poland to Trei Real Estate

Munich/Düsseldorf/Warsaw, 04 December 2024 – pbb Deutsche Pfandbriefbank (pbb) has underwritten an investment facility, totalling €38mn to refinance a retail park portfolio called Vendo Park in Poland for Trei Real Estate.

The portfolio consists of ten assets along middle and smaller size cities in Poland. All properties are predominantly newly built retail parks in very good and established retail locations with direct access to main roads and close to residential neighbourhoods. The portfolio comprises a total of 43,000m² gross lettable area (GLA) and has a well-diversified and strong tenant mix.

Dieter Knittel, Head of CEE at pbb, said: "We are very pleased to support Trei as one of our key clients in the refinancing of a part of their Vendo Park portfolio in Poland.”

Matthias Schultz, CFO at Trei Real Estate said: “The cross-border financing arrangement enables us to release further equity which we will employ for investments in Poland and the United States. It is not the first time pbb proved a reliable partner for us. In fact, the bank is our most important finance partner in Poland, having previously made long-term loans available to us in 2020 and 2023 toward the refinancing of certain retail properties.”

About pbb:
pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a leading European specialist lender for commercial real estate finance in Europe and the United States of America. pbb is a major issuer of Pfandbriefe, which makes it also an important player in the European covered bond markets overall. pbb's shares are listed on the Frankfurt Stock Exchange.

About Trei:
Trei Real Estate GmbH (www.treirealestate.com), a German real estate company with registered office in Düsseldorf, acquires, develops and manages customised and sustainable residential and retail properties. As a wholly-owned subsidiary of the Tengelmann Group, it focuses on real estate investments and developments in Germany, Poland and the United States within the framework of its long-term strategy. In addition to c. 1.3 billion euros in assets under management, Trei Real Estate GmbH has c. 1.7 billion euros worth of developments in the pipeline. In Poland, the company develops, raises and lets retail parks under the Vendo Park brand. Also active on Germany’s housing market, e. g. in Berlin, Trei currently develops residential quarters combined with commercial premises as well as student apartments under the Quartillion brand. The company’s residential activities outside Germany include development projects in Poland and in the United States.

Media contact pbb:
Ingo Buchholzer, +49-89-2 880 10717, ingo.buchholzer(at)pfandbriefbank(dot)com