German lender pbb Deutsche Pfandbriefbank is providing a 鈧�68 mln medium-term facility for the acquisition of the T9 office tower in Montreuil, an eastern suburb of Paris.
German lender pbb Deutsche Pfandbriefbank is providing a 鈧�68 mln medium-term facility for the acquisition of the T9 office tower in Montreuil, an eastern suburb of Paris.
A joint venture of Infrared Capital Partners (InfraRed) and G茅n茅rale Continentale Investissements (GCI) acquired the scheme last month from a fund managed by The Carlyle Group.
The building offers 42,860 m2 of office space, a staff restaurant as well as parking space for 386 vehicles. It has recently been retrofitted to gain a green HQE (Haute Qualit茅 Environnementale) rating. T
he building is currently let to three tenants for 50% of the office space. It is situated near a metro station and in an area which has benefited from extensive regeneration, including the opening of a new shopping centre, residential buildings and a new cinema and theatre.
Carlyle bought the asset in 2006 for its CEREP II fund and completely restructured it. The complex was formerly the headquarters of French social security firm URSSAF (Unions de Recouvrement des Cotisations de S茅curit茅 Sociale et d'Allocations Familiales).
