Baker & McKenzie Advises IMMOFINANZ on EUR210 Million Financing Transaction
6 December 2011
Vienna, Austria / Warsaw, Poland, December 6, 2011 – The international law firm Baker & McKenzie advised IMMOFINANZ Group on the financing of Silesia City Center in Poland. IMMOFINANZ Group financed the extension of and re-financed the well-known shopping center Silesia City Center providing EUR210 million refinancing and development facility. Helaba and pbb Deutsche Pfandbriefbank acted as joint lead arrangers, with Helaba as agent.
“New money deals are still possible. Despite the difficult market conditions, we succeeded in protecting our client's legal interests when completing these financing arrangements for the first-class property Silesia City Center. The Polish economy is picking up momentum and we expect to accompany further property deals in 2012,“ says Dr. Georg Diwok who was lead counsel for the transaction.
IMMOFINANZ Group is one of the five largest listed property investors in Europe. The company is listed on ATX of the Vienna Stock Exchange. The company has set up a high quality portfolio, which currently includes more than 1,600 properties with a book value of approximately EUR8.4 billion. IMMOFINANZ Group’s core business is the acquisition and management of properties, the implementation of development projects and the disposal of properties. IMMOFINANZ Group focuses its activities on the retail, office, logistics and residence segments on eight regional core markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Russia.