DLA Piper advises Aareal Bank on financing acquisition of shopping centre in northern Poland

DLA Piper has advised Aareal Bank AG on the provision of financing for the acquisition of the Jantar Shopping Centre in Słupsk by Star Capital Finance (SCF).

The Jantar Shopping Centre is a retail and leisure scheme located in the Central Pomerania region, offering approximately 44,000 square meters of gross leasable area (GLA) across more than 125 units and contains 1100 parking spaces. The shopping centre benefits from a diversified and stable tenant base and is strategically located along a major route towards Szczecin.

Aareal Bank AG is an international financial institution specialising in the financing of commercial real estate and providing services to the real estate sector.

The transaction marks a further step in the development of SCF’s retail platform in Poland. Following completion, the investor’s portfolio comprises seven shopping centres and DLA Piper has previously advised Aareal Bank AG on the provision of financing for the acquisition of six assets with a total value of EUR285 million.

DLA Piper’s scope of advice included comprehensive legal support to the financing bank at all stages of the transaction, including the preparation and negotiation of the financing documentation.

A team from DLA Piper’s Finance practice in the Warsaw office worked on the transaction led by partners Mariusz Hyla and Bartłomiej Palusiak. They were supported by junior associates Jakub Figura and Wojciech Rudnik.