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EUR 137 million for Wzgórze S/C

CH Wzgórze, Gdynia.

Wzgórze shopping centre in Gdynia has been granted EUR 136.828 million credit for the extension andreconstruction of the facility.  The extension will start in the nearest weeks. The opening is scheduled on the third quarter of 2013.

In 2009, the Foncičre Euris group entrusted Mayland Real Estate with the Wzgórze shopping centre with the area of 21 000 sqm and the task of preparing the reconstructionand extension of the existing scheme. Over EUR 136.8 million will be spend onthe extension of the main shopping centre in Poland. Mayland RE will carry outthe extension and manage the scheme.

The financing for the project will be provided by two Polish banks together: Pekao SA and BZWBK SA. Pekao S.A. which will be the agent and main lender isone of the larges banks in the Central and Eastern Europeas far as market capitalisation is concerned and a member of Uni Credit Group.Bank Zachodni WBK SA is the third largest network of banks in Poland andsubsidiary of Santander Group in 96 percent. Colliers International has participated in organising the transaction.

Wzgórze Shopping Centre will be reconstructed according to a new architectonic conceptto become a well-known place for shopping and entertainment in Tri-city.Wzgórze S/C, a regional, third generation format, will encompass an area of70 000 sqm, comprising 270 shops. Major tenants will include  Real,Inditexi Alshaya, C&A, NewYorker, Helios and RTV Euro AGD. Currently, thecentre is 70 percent let.

MaylandRealEstate sp. z o.o. is a developer of retail space in Poland. Thecompany has been established in 2006; in 2008, it commissioned three modern shopping centres: Karolinka in Opole,Pogoria in Dabrowa and the first stage of Jantar in Slupsk. Mayland plans toconstruct shopping centres with the total area of 300 000 sqm in the nearest years.

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