Allianz Real Estate France has amended its agreement with Icade for the financing of the 鈥楶ont de Flandre鈥� business park, increasing the total amount up to 鈧�225mln and extending the remaining term of the loan by 20 years.
The property, which is located in the 19th arrondissement of Paris, totals 81,000 m2 of office area, in 10 buildings spread over a five-hectare park.
Pont de Flandre鈥檚 owner, Icade, is a French REIT majority owned by state-owned Group Caisse des D茅p么ts. Allianz Vie and Allianz IARD, two French insurance companies of Allianz, provided the loan.
Carole Tran Van Lieu, head of Commercial Real Estate Lending at Allianz Real Estate France commented: 鈥楾his 20-year financing gives us the opportunity to strengthen our collaboration with Icade, a leading real estate player on the French market.鈥�
