Munich, 17 August 2020 – pbb Deutsche Pfandbriefbank has provided EUR 51 mn to Trei Real Estate, the real estate venture of the Tengelmann Group, for the financing of a retail Portfolio in Poland.
The portfolio comprises of 40 supermarkets across 38 cities in well-established urban locations in Poland, which are all fully let to Biedronka with a long term lease. Biedronka is the largest supermarket chain in Poland with more than 3000 stores mainly selling local polish products. All properties were constructed between 2006 and 2014 and are in good condition.
Charles Balch, Head of International Clients, UK, CEE & USA at pbb com-mented: “"With a focus on food and supermarket based retailing, the portfolio of Biedonka markets represents a sub market in the retail asset class which has shown a stable development in a situation when the retail segment overall is exposed to major structural changes. Poland is one of pbb’s core markets in the CEE region."
Matthias Schultz, CFO of Trei Real Estate, said: “Through this transaction, we leverage an attractive portfolio which was so far fully funded via equity. pbb is a strong player in the Polish market and we are happy to team up with this committed partner."