Helaba lends €34m on Doughty Hanson's Toulouse park ahead of sale

German lender Helaba has provided a €34 mln loan to Doughty Hanson European Real Estate (DHCRE) Fund II for the refinancing of its office park in Toulouse ahead of a future sale.

The facility includes €4 mln for future capital expenditures to refurbish vacant areas in the building, and for further enhancing the services in the common parts of the complex. The asset management companies Montecristo Capital and Tivoli Capital acted as advisors for DHCRE Fund II.

The office park is a grade A 33,000 m2 complex consisting of four properties of which 75% is for office and 25% for light industrial use. It is located in Basso Cambo, the business area of Toulouse.

Completed in several phases - most recently from 2011 until 2014 - the complex has been owned by DHCRE Fund II since 2008. It is currently occupied by five main tenants including T-Systems, GFI Informatique and subsidiaries of Vinci, Suez and Thales.

Helaba is acting as arranger and sole lender.