Germany's pbb Deutsche Pfandbriefbank has provided EUR 24 mln worth of financing for the acquisition by the Pradera Open-Ended Retail Fund of two shopping centres in Lodz and Torun, Poland.

The two malls, Galeria Tulipan in Lodz and Galeria Kometa in Torun, are both well leased and show strong performance. They constitute the first Polish acquisitions for Pradera's Open-Ended Retail Fund and pbb's first financing for Pradera in Poland.

Tulipan comprises 59 retail units on 9,600 m2, whereas Kometa has 19 units on 2,000 m2. Both are anchored by Real hypermarkets.

'This is our first transaction with Pradera in CEE, and we are looking forward to continue working with them across Europe, including Poland, for the various funds they have under management,' said Harin Thaker, head of Real Estate Finance International at pbb Deutsche Pfandbriefbank.