Lone Star agrees to buy Coeur Défense in Paris (FR)

Lone Star Funds have reportedly agreed to buy the Coeur Défense business complex in La Défense, the most expensive office complex in Paris. Hold, the current owners of the 190,000 m² complex, acquired the towers in 2007 for approximately €2.1 billion from Goldman-Sachs Whitehall Funds and Unibail-Rodamco.

After the collapse of Lehmann Brothers Holdings, which had issued the notes to help finance the acquisition of the complex, in September 2008, Hold was forced to file for protection from French creditors and was given a July 2014 deadline by the Court of Appeal of Versailles to repay the €1.6 billion loan.

Lone Star Real Estate Fund III is planning on acquiring the massive complex by purchasing LB Dame SCA, according to Windermere XII FCC.

It has been reported that Coeur Défense could sell for between €1.1 and €1.3 billion, which would still make it the largest property deal in France in a long time.

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