German lender pbb Deutsche Pfandbriefbank has provided a large refinancing facility for a 65,000 m2 office scheme in Paris
German lender pbb Deutsche Pfandbriefbank has provided a large refinancing facility for a 65,000 m2 office scheme in Paris
French real estate company Docks Lyonnais will use the €199 mln funding to refinance the building in Nanterre, a region of the French capital that houses part of business district La Défense.
Docks Lyonnais is the French subsidiary of a fund managed by UBS.
Pbb acted as sole lender and hedge provider for the facility which closed in March 2013.
Nobert Müller, head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: 'France is a core market for pbb Deutsche Pfandbriefbank and we are pleased to support the new management of Docks Lyonnais in the effort to reposition and to re-let parts of the asset in Nanterre. UBS continues to be a key client of pbb and we are pleased to deepen the relationship.'
