Hypo Real Estate Bank International announces that it has arranged a €26 million acquisition facility for a special purpose vehicle held by Cargill Value Investment and Transimmeubles. The facility will be used to finance the acquisition and the refurbishment of two vacant office properties within Paris Central Business District. The transaction closed on 5 April 2006.
The buildings are located at 29 rue de Provence and 20 rue Saint Georges in Paris 9th district, known for its financial services, real estate and insurance companies, at the edge of the Central Business District. Both properties will be refurbished and the office space upgraded. The works will be completed by end 2007.
Commenting, Harin Thaker, CEO Europe, said: This transaction with Cargill Value Investment and Transimmeubles demonstrates once again the effectiveness of our European business platform in providing tailored financing, and strengthens our position in a key market
Source: Hypo Real Estate Group