Aareal Bank is granting a loan totalling around 140 million for the purchase of a building complex in Montrouge, Paris. The buyer is Carlyle Europe Real Estate Partners. The 70,000 m² site, known as "Schlumberger campus", had once been the European headquarters of the Schlumberger Group. The loan has been arranged by Aareal Bank France.
The site consists of twelve existing buildings with a majority of office space and park surroundings. These buildings from the 1920s and 1930s have already been partly renovated, with other sections to be refurbished and new buildings to be developed. The Montrouge suburb on the south side of Paris is located directly on the "Periphérique" ring road. Montrouge has become a very prestigious location in recent years for both residential and office purposes, thanks to its ideal transport connections and attractive tax rates. Overall, the properties and location present the buyer with the best possible opportunity for developing the building complex.
Source: Aareal Bank