German lender Berlin Hyp has announced that it is financing part of the development of the new Hamo office building in Saint Denis, near Paris for UBP’s governmental real estate strategy.
Berlin Hyp is providing Swiss Private Bank Union Bancaire Privée (UBP)’s governmental real estate strategy with a loan amount of €152.7 mln for a term of seven years.
Designed by architect Henning Larsen, the building was purchased end 2021 in a forward sale agreement with a delivery date expected in March 2024. The office complex will provide 32,000 m2 of total lettable area including some retail space and about 200 parking spaces.
The office area is fully pre-let to the French railway company SNCF with a 12-year lease. Upon completion in 2024, the building is expected to have four energy labels including a BREEAM "Excellent" certification, making the financing suitable for the Berlin Hyp green Pfandbrief.
Berlin Hyp was advised on the transaction by the law firm Allen & Overy and the notary's office Allez & Associés.
