Tristan Capital Partners’ TIPS One "Income Plus" Real Estate Debt Fund has provided senior debt financing to funds advised by AnaCap Financial Partners, to support the €59.25m acquisition of South Station, a freehold office asset located in Massy, in the second ring of Paris. South Station is a high-quality property ideally located in Massy - the largest economic centre in the Southern Paris area – and is adjacent to the town’s main transport stations (RER and TGV). The asset is one of the most attractive buildings in the submarket offering modern A-grade office space with excellent amenities.
The sale and partial leaseback acquisition will see the vendor CGG, a geophysics specialist, remain as the majority tenant. Pramena Investment will act as the asset manager for the property.
Ashil Sodha, Director, Debt Investment at Tristan Capital Partners, said: “As TIPS One continues to diversify, we are pleased to have closed our first loan in France. We are focused on lending on high-quality assets with the right ESG characteristics and we believe this loan exemplifies this strategy well. We look forward to working alongside AnaCap and Pramena and supporting them in optimising their strategy for this asset.”