Hypo Real Estate Bank International announces that it has arranged a 50 million investment financing (including VAT loan) and payment guarantee facility to Société de la Tour Eiffel. The transaction closed on 16 October 2006.
The facility will be used by Société de la Tour Eiffel to guarantee and finance, upon completion, the acquisition of a class A office building from Nexity. The property, which is located on the Périphérique ring road around central Paris, will provide 10,200 m² of office space, a 588 m² canteen facility, 1,500 m² of retail, 92 underground parking spaces and has a full H.Q.E (High Quality Environment) specification.
The buildings construction, which is being managed by Nexity, is due for completion by the end of 2008.
Commenting, Harin Thaker, CEO Europe - Hypo Real Estate Bank International AG, said: "This transaction continues our successful relationship with Société de la Tour Eiffel and I look forward to working on many more deals with them in the future."
Source: Hypo Real Estate