pbb Deutsche Pfandbriefbank has provided a €52m loan facility to SCOR Properties II – a real estate fund managed by SCOR Investment Partners - for the refinancing of an office building in France.
The office building ‘Start’ is located in Saint Quentin en Yvelines, in the second biggest business area in the Paris region. It comprises 28,238m² office space and is fully let to Egis, an international company offering engineering, project structuring and operations services, on a nine year firm lease. CODIC refurbished the building in 2013 according to the latest office standards. The building is BBC labelled and certified HQE and BREEAM.
Norbert Müller, head of real estate finance continental Europe West at pbb Deutsche Pfandbriefbank, commented: “This deal is our fourth transaction in France with SCOR and we look forward to continuing to work with SCOR Investment Partners going forward, as client on the one hand and as lending partner with their debt fund on the other hand.”
Jean Guitton, head of real estate at SCOR Investment Partners, declared: “This financing, taking place in the framework our second OPPCI SCOR Properties II, shows our confident relationship with pbb and our active management of our real estate financing.”
