German lender pbb Deutsche Pfandbriefbank has provided a EUR 61 mln loan for two Spanish retail and leisure parks owned by subsidiaries of the Pillar Retail Europark Fund (PREF). The fund is managed by BL European Fund Management and is part-owned by UK REIT British Land.

pbb Deutsche Pfandbriefbank acted as arranger, agent and sole lender on the transaction, which closed in December 2011.

The assets are Nassica Retail and Leisure Park - a regional park built in 2002 and located in Getafe in the southern outskirts of Madrid - as well as Vista Alegre Retail Park - a retail warehouse park located in Zamora and let to 14 operators including anchors AKI, Froiz and El Corte Inglés Oportunidades.