GESSEL advised the Tyrion Real Estate group on retail park financing transaction in Poland

GESSEL advised the Tyrion Real Estate group on the financing of the second phase of a retail park development in Lidzbark Warmiński and a related project in Bartoszyce, Poland, as well as on the transfer of the project properties as part of the transaction structure.

The PLN 10,500,000.00 financing was provided by TYR Private Debt Rynku Nieruchomości Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych, managed by TYR Towarzystwo Funduszy Inwestycyjnych S.A., and documented on Loan Market Association (LMA) terms.

The developments form part of the continued expansion of retail park assets in regional Poland and build on the sponsor’s existing relationship with LCP, the anticipated long term investor for the completed project.

GESSEL advised on all financing, real estate and corporate aspects of the transaction, including the financing arrangements, security package, property transfer documentation and related corporate matters.

“The transaction reflects continued investor interest in well positioned retail park developments in regional Poland and the increasing maturity of alternative real estate financing structures in the market,” said Małgorzata Badowska, Partner at GESSEL.

The transaction team of the TYR TFI financing fund was led by Mariusz Mikulski.