Hypo Real Estate Bank International announces today that it has arranged a €51 million investment financing (including VAT loan), and payment guarantee facility, to a fund managed by LaSalle Investment Management. The transaction closed on 7th June 2006.
The facility will be used by LaSalle Investment Management to guarantee and finance upon completion, the acquisition of two class A office buildings, together called 'L'Européen 2', from GA / Meunier. The buildings will cover 19,434 m² and will be divided into office space, staff facilities and underground parking.
'L'Européen 2' will be located in the ZAC Jean Rostand, Avenue Jean Jaurès, in Bobigny, 1st North periphery of Paris. The location offers good transport links to the A86 motorway, as well as bus, subway and tram access to Paris.
The buildings construction, which is being managed by GA / Meunier is due for completion by the end of January 2008.
Commenting, Harin Thaker, CEO Europe, said: "This transaction clearly demonstrates our ability to provide financing solutions for complex transactions within a short time frame."
Source: Hypo Real Estate Bank