German lender Aareal Bank has provided a €65 mln loan facility to Cicerone RE Holding for the iconic Mondrian office building in Brussels.
Aareal Bank is acting as arranger, agent and sole lender.
Cicerone RE Holding, which bought the asset a year ago, is fully participated by Cicerone Fund, a pan-European property fund, dedicated to Cassa Forense (Italian Pension Fund for Lawyers) and managed by Fabrica Immobiliare SGR and advised by CBRE GI.
Cicerone RE Holding is dedicated to the creation and management of a high-quality property portfolio focused on offices in the main European cities.
Located in the Quartier Léopold, Mondrian was built in 2004 and offers 19,297 m2 of first-class office space, fully let to the European Commission since the first occupancy. Designed by Assar architects, it is mainly used for the Commission's research and development activities.
‘We are glad to have signed this great financing opportunity, secured by a prime asset with a long-term lease. We are very glad that this transaction allowed us to support one of our Italian clients in its pan-European activities,’ said Martin Vest, managing director at Aareal Bank.
Cicerone RE Holding was advised by Loyens & Loeff and Legance. The financing advisory service was provided by Narciso Capital. Aareal was advised by CMS.
