Deutsche Hypo, the real estate finance arm of Nord/LB, has granted a EUR 104 mln credit facility to French real estate investment trust Gecina for the financing of two prime offices in central Paris. The loans have an average maturity of 8.5 years.
Deutsche Hypo, the real estate finance arm of Nord/LB, has granted a EUR 104 mln credit facility to French real estate investment trust Gecina for the financing of two prime offices in central Paris. The loans have an average maturity of 8.5 years.
The assets, located at Rue de Louvre and Avenue Matignon, provide a total of 21,500 m2 of space. The 13,500-m2 office at Avenue Matignon houses the French headquarters of auction house Christie's. The 8,000-m2 building at Rue de Louvre is fully let to Banque de France.
'We see great potential in the French property market and will continue to expand our presence in France,' said Andreas Pohl, board member of Deutsche Hypo.
Savills was commissioned to carry out the valuation of the assets.
