DB Real Estate Finances Three Paris Projects

PARIS-Deutsche Bank subsidiary DB Real Estate will fund three Paris projects totaling 538,196 sf. The developments include a 258,334 mixed-use complex, an office building that will be leased to French daily newspaper Le Monde and an office asset near the Gare St. Lazare.

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.