Focus Estate Fund has received refinancing and plans to scale its Polish portfolio in 2020
Published Date: 27/01/2020
Focus Estate Fund has received refinancing from BNP Paribas Bank Polska for its Polish portfolio of retail assets.
It involves shopping centers Galeria Sandomierz (Sandomierz) and Galeria Awangarda (Bartoszyce) with a total area of more than 10,000 square meters.
“Refinancing will not only generally increase profitability and improve the performance of our portfolio but will also allow us to implement the Fund’s strategic plan for new acquisitions in Poland in 2020. In particular, now we are already looking in the direction of mid sized retail facilities with an area of 30,000 square meters,” – commented Maxim Shkolnick, Partner of the Fund.
“We’ve chosen a conservative strategy in our communication with the bank in terms of loan to value ratio which allows us to carefully look at rates and possible future risks. In the process of obtaining refinancing, BNP Paribas Bank Polska was not only a financial services provider for us but also demonstrated the effect of smart money by providing advisory support and recommending risk-reducing management decisions, some of which we have already implemented,”- he also said.
It is worth reminding that Focus Estate Fund’s portfolio consists of three shopping centers in Poland (in Sandomierz, Zgorzelec, Bartoszyce) and two in Czech Republic (in Most and Ostrava). Total GLA is 34,000
Focus Estate Fund is a real estate investment fund with its headquarters in Kyiv (Ukraine), focusing on non-prime commercial real estate in the countries of Central and Eastern Europe. The fund plans to invest in the development of commercial real estate projects of medium format in the most dynamic markets of Eastern Europe in the amount of 50 million euro over the next 2-3 years.
BNP Paribas Bank Polska is a universal bank listed on the Warsaw Stock Exchange. It offers savings and investments products as well as a wide range of loans (including mortgage and consumer) to individual clients. It provides businesses (micro, SMEs and corporates) with solutions to fund their operations on the Polish and international markets. The Bank also caters to food and agro sector companies. The Bank has a comprehensive offering for its private banking segment clients to protect, optimize and grow their wealth. The bank’s clients have at their disposal an array of investment advisory services.
The mission of BNP Paribas Bank Polska is to offer innovative financial solutions in a responsible manner to help clients change their world and support local economy. The Bank is a member of leading international banking Group BNP Paribas. The Bank provides services through a network of banking branches and stands at shopping centers throughout the country. Its credit products are also available at partner stores, including selected car dealership networks.