Norton Rose Fulbright advises Nedbank on the refinancing of EPP Groups shopping centre in Olsztyn

Norton Rose Fulbright's South Africa and Warsaw offices have successfully advised Nedbank Limited, a leading South African financial institution, through its London branch, on the refinancing of the EPP Group's retail real estate portfolio, focusing on the Power Park Olsztyn shopping centre in Olsztyn, Poland.

The transaction was lead by director Raghemah Hendricks, supported by lawyer Adrienne Cloete from our Johannesburg office, with contributions from director Steve Chemaly and associate Carly Lakin. Raghemah and the team in Johannesburg lead on the drafting of the English law financing and real estate aspects of the transaction.

The Warsaw team, led by counsel Marta Kawecka, offered comprehensive advice on Polish law, with contributions from associate Jakub Wiatrzyk on finance matters and associate Magdalena Olechniewicz-Blocher and senior associate Patrycja Pakla on real estate aspects. Tomasz Rogalski, partner and head of real estate finance practice in Poland, supervised the Polish details of the transaction.

Nedbank Group is a prominent financial services provider in South Africa, offering wholesale and retail banking services as well as insurance, asset management, and wealth management operating primarily in South Africa. Nedbank also extends its reach to five other countries in the Southern African Development Community (SADC), with subsidiaries and banks in Eswatini, Lesotho, Mozambique, Namibia, and Zimbabwe, along with offices in Ghana and Kenya. Internationally, Nedbank offers financial services in the Isle of Man, Jersey, Guernsey, the United Kingdom and the United Arab Emirates.

EPP Group is the largest asset manager of retail real estate located in Poland in terms of Gross Leasable Area (GLA). It oversees a portfolio of 35 projects (29 retail properties and 6 office complexes) valued at approximately 2.8 billion euro, with a total leasable area exceeding 1 million square metres. These projects are strategically located in Poland's most attractive cities, known for strong consumer demand and significant growth potential.

"We are delighted to have assisted Nedbank Limited on this significant refinancing real estate transaction for Power Park Olsztyn. This transaction highlights our capability to provide comprehensive legal support on both English and Polish law matters, ensuring smooth and efficient processes for our clients. The collaboration between our South Africa team and our Warsaw colleagues demonstrates our global reach and commitment to delivering exceptional service. We look forward to continuing our partnership with Nedbank and supporting their strategic initiatives in the region" states Raghemah Hendricks, director, Norton Rosefulbright South Africa.

"Norton Rose Fulbright's expertise and seamless collaboration between their South African and Warsaw offices were instrumental in the successful refinancing of Power Park Olsztyn. Their thorough understanding of both English and Polish law was critical in navigating this complex transaction. We appreciate their dedication and look forward to future collaborations."

This collaboration highlights Norton Rose Fulbright's expertise in cross-jurisdictional transactions and reinforces our commitment to providing exceptional legal services across multiple regions and industries.

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