pbb Deutsche Pfandbriefbank has extended a secured facility of €199 million to Docks Lyonnais SA, the French subsidiary of a UBS advised fund.
The proceeds will be used to refinance a 65,150 m² office building in Nanterre, in the surroundings of La Défense, Paris. In this transaction–which closed in March 2013-pbb is acting as sole lender and hedge provider for the facility.
Nobert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “France is a core market for pbb Deutsche Pfandbriefbank and we are pleased to support the new management of Docks Lyonnais SA in the effort to re-position and to re-let parts of the asset in Nanterre. UBS continues to be a key client of pbb and we are pleased to deepen the relationship.”