APSYS REFINANCES POSNANIA
Apsys has secured the long-term refinancing of Posnania, its new Polish flagship, with Berlin Hyp AG, ING Bank Śląski S.A., Société Générale and Deutsche Postbank AG. This refinancing amounting to €260M in total is one of the largest ever granted in commercial real-estate in Central Europe. The project’s initial financing during the development phase in 2014 already set a record in this area. Posnania, the 100,000 sqm GLA flagship opened in October 2016, in Poznan, has experienced incredible success and should welcome 15 million visitors by the end of the year, an exceptional result that has exceeded targets. Berlin Hyp AG and ING Bank Śląski S.A., which participated in the initial Posnania financing, have renewed their confidence in Apsys by participating in this refinancing alongside Société Générale and Deutsche Postbank AG. In this transaction, Apsys and Foncière Euris, respective owners of 73% and 27% of Posnania capital, were advised by Stepling and the law firm Dentons; Linklaters represented the banking consortium Berlin Hyp AG, ING Bank Śląski S.A., Société Générale and Deutsche Postbank AG.