pbb provides €79m financing to La Française REM

German lender pbb Deutsche Pfandbriefbank has provided two separate facilities, totalling €79 mln, to La Française Real Estate Managers (REM).

The €35 mln and €44 mln facilities were granted for the acquisition of two Paris office buildings. Deutsche Pfandbriefbank acted as arranger, lender and agent in both transactions. The deals closed in December 2014.

One facility was provided for the acquisition of the ‘Jazz’ office building in the Trapèze district of Boulogne Billancourt, Paris Golden Crescent. The 7,500 m2 building is let to tire maker Michelin. The other facility was granted for the acquisition of the ‘Panorama Seine’ and ‘Dockside’ office buildings which together form the headquarters of integrated services facilities management company, Sodexo. Located in Issy-les-Moulineaux, Paris Golden Crescent, the two buildings total 10,000 m2 of office space.