Westdeutsche ImmobilienBank (Westimmo) announced on Tuesday that it acted as agent and arranger for an acquisition financing for the closed-end 'Signa 11 Brussels' fund planned by Signa Property Funds Deutschland.

Westdeutsche ImmobilienBank (Westimmo) announced on Tuesday that it acted as agent and arranger for an acquisition financing for the closed-end 'Signa 11 Brussels' fund planned by Signa Property Funds Deutschland.

The financing comprises a EUR 42 mln long-term loan with a ten-year maturity and a EUR 30 mln short-term equity bridge loan.

The newly built 7-story office building comprises 32,000 m2 and is fully let to the Belgian Mobistar, a company of France Telecom. The modern office premises is situated in the North-East of Brussels, close to the NATO headquarters.

Vienna-based Signa-Group is active in the real estate development and the creation of closed real estate funds. The total volume of placed funds amounts to EUR 744 mln.