Helaba, acting as arranger and sole lender, provides a €70 mln loan to the Tishman Speyer European Core Fund (“TSEC”) for the refinancing of its Paris office property ‘Cristalia’. The facility includes €10 mln for future capital expenditures to further upgrade the building’s common parts and enhance its services.
‘Cristalia’ is a highly-visible, grade A office building located in Rueil-Malmaison, Hauts-de-Seine, in close proximity to central Paris. Built in 2002 and designed by renowned architect Jean-Paul Viguier, ‘Cristalia’ has been owned by TSEC since 2008. It consists of 21,700 m² over eight floors with excellent vertical and horizontal flexibility. It is occupied entirely by Bristol-Myers-Squibb, a worldwide leading biopharmaceutical company, who just renewed its lease.
France is one of Helaba’s major target areas in real estate financing. For more than 20 years now, the bank has been operating successfully for French, German and international customers, since 2008 with a fully operative branch. Helaba Paris’ range of services is focused on both institutional and private investors and includes financings of office, retail and logistics real estate.