PARIS-Tishman Speyer has refinanced a $571 million loan for the 1.4-million-square-foot Lumiere building here. BNP Paribas, Cardif, CNP and Predica providing the new funding for the fully-leased building.
According to a Tishman statement, the new financing agreement is the first of its kind in Europe to be structured through a mortgage bond private placement, secured by a first-ranking mortgage on the building. It is the largest real estate financing in France for a single asset in the past five years.
The building is in the business district of Bercy St. Emilion. The nine-story property includes Natixis, SNCF, ING Direct and the French Ministry of Interior, which is moving into 400,000 square feet by this fall in the city’s largest office lease ever.
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