Munich/Paris, 14 March 2018 – pbb Deutsche Pfandbriefbank provided a €60 million medium-term facility for Seine Avenue Sarl, an SPV held by InfraRed Real Estate Fund IV and managed by InfraRed Capital Partners, for the acquisition of Seine Avenue office building. Hemisphere, the asset manager of the asset, ad-vised InfraRed on the acquisition.
The Camelia office building is located within the ZAC des Bords de Seine in As-nières-sur-Seine, a northern suburb of Paris close to the Seine river. The area benefits from extensive regeneration, including new residential buildings, hotels and offices. The building consists of around 23,400 m² office space including a staff restaurant and 420 parking units. It was built in 2009 and has a green building certification (Haute Qualité Environnementale Exploitation).
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb, said: “We are pleased to further strengthen our relationship with InfraRed and Hemisphere and support them in their financings and in the execution of their business plan, in France and Europe.”
Cedric Vallin, President of Hemisphere says: “We are delighted to deepen our collaboration with PBB with another Paris office financing. The strong asset fun-damentals together with its ongoing repositioning and our active management makes us confident of its future success.”
Note to editors:
pbb Deutsche Pfandbriefbank is a specialist lender for commercial real estate finance and public investment finance in Europe and the United States of America. pbb is a major issuer of Pfandbriefe, which makes it also an important player in the European covered bond markets overall. pbb is listed on the Frankfurt Stock Exchange.
In real estate finance, the bank’s primary target of new business is professional real estate investors and developers. Core asset classes financed include office, retail, residential, logistics/warehouse properties and hotels. The regional focus is on Germany, the UK, France, the Nordic Countries, selected countries in Central and Eastern Europe and Spain. pbb is also active in selected regions in the US.