Insight, a 538,196-sf property being developed by Bouygues Immobilier, is located at ZAC Paris Rive Gauche. It will include ground-floor retail space, upper-floor office and parking for 118 vehicles.
Another deal will provide acquisition financing for the 199,334-sf Le Monde office development at 74-84 rue Auguste-Blanqui. The property will undergo a major refurbishment and the entire building will be used at Le Monde's headquarters beginning in September 2004.
The last transaction will provide acquisition funding for the Euro Athenes on rue d'Athenes. Located near the St. Lazare railway station, the 52, 743-sf office building is being developed by Eiffage and is due for completion later this year.
"The current trend for German funds to invest heavily in Paris is underlined by this latest trio of transactions," says Patrick Jenvrin at FPDSavills, which advised DB Real Estate on the loans. "As a result the market remains bullish and we are seeing a lot of activity as developers respond to the growing need for high specification buildings in the capital."
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