Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, announces that it has arranged a €26.7-million investment financing and payment guarantee facility, to a fund managed by Lasalle Investment Management. The transaction was completed on 20 July 2007.
The facility will be used by LaSalle Investment Management to guarantee and finance (upon completion of its current refurbishment) the acquisition of an eight-story office building located at 46 rue la Boétie, in the Paris CBD (8th district). The building, which comprises 2.300 m² of office space, has been purchased from Pitch Promotion and will be completed by the end of 2008.
Commenting, Harin Thaker, CEO Europe Hypo Real Estate Bank International, said, "The successful completion of this transaction with a key client highlights our commitment to highly structured property finance deals. It also illustrates our ability to deliver timely, tailor-made financing solutions and meet the needs of our clients in today's market."
Source: Hypo Real Estate Bank