Hypo Real Estate Bank International has announced that it has arranged a €169 million facility for Société de la Tour Eiffel. The facility will be used to finance the acquisition of Locafimo SAS from Orion Eleventh GmbH, and to refinance the existing debt within the portfolio. The transaction closed on December 27th 2005.
The Locafimo portfolio comprises 35 properties located across Paris, Ile-de-France and other regions all over France: 16 office buildings, 11 light industrial/business parks and 9 warehouses, totalling 294.000 m².
Commenting, Harin Thaker, CEO Europe, said: "This transaction demonstrates how Hypo Real Estate Bank International can work with clients to help facilitate the transformation of existing facilities to enable them to extract or realise financial value."
Source: Hypo Real Estate