Westimmo provides EUR 72m financing for Sigma fund

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.