German lenders BayernLB and Berlin Hyp have arranged a EUR 140 mln financing facility with a seven-year term for the Carré Suffren office scheme located at the foot of the Eiffel Tower in Paris. The asset is owned by a joint venture of French office SIIC Foncière des Régions (60%) and Crédit Agricole Assurances´ Predica (40%).
German lenders BayernLB and Berlin Hyp have arranged a EUR 140 mln financing facility with a seven-year term for the Carré Suffren office scheme located at the foot of the Eiffel Tower in Paris. The asset is owned by a joint venture of French office SIIC Foncière des Régions (60%) and Crédit Agricole Assurances´ Predica (40%).
The operation follows the lease in early 2011 of the remaining 23,000 m2 of vacant office space in the complex. Insurance group AON, the French Ministry of Education and Institut Français have agreed to 12 and seven year leases, bringing the scheme to near full occupancy.
On a full-year basis, the total rent amounts to over EUR 13 mln, FdR said.
The 25,000-m2 building, which was purchased in partnership with Predica (40%) in November 2004, was completely restructured and delivered at the end of 2009. CBRE, C&W and BNP Paribas Immobilier were the letting agents.
