WestImmo provides €72 million structured acquisition financing for Brussels office building (DE/BE)

Westdeutsche ImmobilienBank AG (WestImmo) acted as Agent and Arranger for an acquisition financing for the planed closed fund "Signa 11 Brüssel" of Signa Property Funds Deutschland AG. The financing comprises a €42 million longterm loan with a ten years maturity and a €30 million shortterm equity bridge loan.

The newly built 7-story office building comprises 32,000 m² and is fully let to the Belgian Mobistar S. A., a company of France Telecom. The modern office premises is situated in the North-East of Brussels, close to the NATO Headquarters and nearby the International Airport. The Austrian Signa-Group, Vienna is active in the Real Estate Development Business and the conception of Closed Real Estate Funds.

Signa-Group is one of Austria´s leading Real Estate Companies. The total volume of already placed funds amounts to €744 million. WestImmo is one of Germany's leading commercial real estate financers and maintains a strong presence in the Western, Central and Eastern European markets, as well as in North America and Asia. WestImmo's corporate customers include global institutional investors, international developers and companies operating in the real estate sector.

With 480 employees and total assets of approx. €26 billion, WestImmo is a strong and competent partner in all real estate transactions and financing activities. As of October 31, 2009 WestImmo has committed more than €5 billion new loans to its clients worldwide.

Source: WestImmo

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