pbb Deutsche Pfandbriefbank has arranged and underwritten a € 131 mln mortgage backed facility to fully refinance “Tour W”, an office tower located in La Défense, Paris. The property is managed by AEW Europe and owned by a group of French investors. pbb acted as Lead Arranger in this transaction which closed on April 15th 2015.
“Tour W” encompasses 32 floors above ground with a total floor area of 38.000 m². The building offers office space (31.000 m²), archives (7.000 m²) as well as a staff canteen & cafeteria, and 139 parking spaces. The Tower is currently partially let and going through a large renovation programme to be completed in June 2015.
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb Deutsche Pfandbriefbank, commented: “We were pleased to work with AEW Europe and to provide this facility. “Tour W” is a well-positioned building in La Défense, Paris. For pbb Deutsche Pfandbriefbank France is one of the core markets.”
Source: pbb Deutsche Pfandbriefbank