A consortium of lenders has provided a €215 mln financing to Tishman Speyer for the acquisition of the Tour CBX building in the La Defense business district of Paris.
Aareal Bank, acting as arranger, agent and lender and La Banque Postale, acting as lender, provided the funds to a joint venture led by Tishman to purchase the office asset in the La Défense business district.
'Thanks to the very good client relationship and the excellent cooperation between the financing partners we were able to successfully close this complex transaction,' commented Martin Vest, managing director for Western Europe at Aareal Bank.
Tour CBX, a 41,000 m2 office building, was originally developed and delivered by Tishman Speyer in 2005 and later sold to its main tenant. Some 84% of the 142 metre-tall tower is let to three international occupiers over its 27 floors.
'Securing the necessary financing for this joint venture is a reflection of our solid reputation and the strong relationships we have with our partners. CBX is our 20th acquisition in Paris and an important asset for us, buying back the first property we originally developed 15 years ago,' said Philippe Joland, senior managing director and Tishman Speyer head of France.
'This demonstrates how we have always intended to become local and long term players in the most active real estate markets around the world,' added Joland.
The lenders were advised by Archers and Allez & Associés.
Tishman Speyer was advised by De Pardieu Brocas Maffei, Fairway and Atoz, Wargny Katz, Finae Advisors and Chatham Financial.
