German bank Berlin Hyp has taken over the financing of the A4C office complex in Paris's central Rive Gauche district, with a total volume of EUR 91.5 mln. The fully let property was recently acquired by Union Investment Real Estate's UniImmo: Deutschland Fonds, in an effort to diversify its portfolio. The loan has a 10-year term.
German bank Berlin Hyp has taken over the financing of the A4C office complex in Paris's central Rive Gauche district, with a total volume of EUR 91.5 mln. The fully let property was recently acquired by Union Investment Real Estate's UniImmo: Deutschland Fonds, in an effort to diversify its portfolio. The loan has a 10-year term.
Jan Bettink, Chairman of the Board of Management of Berlin Hyp, sees the conclusion of this deal as confirmation of the decision to open an office in Paris: 'The French real estate market opens opportunities which we, as a large real estate financer, will use strategically in the long term.'
Berlin Hyp is part of the Real Estate Finance Business Division of Landesbank Berlin and one of the largest German real estate finance providers. Berlin Hyp concentrates its sales activities on business with investors, housing enterprises, real estate funds, capital investment companies and selected construction enterprises and developers.
