La Française Real Estate Managers (REM) has secured refinancing for So Ouest, a prime office asset located 35 rue d’Alsace in Levallois-Perret, an upmarket suburb of Paris, located northwest of the city. The asset management team of the institutional division of La Française REM, acting on behalf of a Korean institutional investor, successfully negotiated the refinancing through Helaba, the loan agent, and DekaBank, acting as co-lenders.
Designed by Glaiman & Epstein and fully developed between 2009 and 2011, the SO OUEST office building has a total surface area of 33 252 m2, spread over 22 upper floors and is well serviced with a staff restaurant, cafeteria, conference room with 171 seats, meeting and reception rooms, accessible terrace and a concierge’s lodge.
David RENDALL, Managing Director of the International Division of La Française REM said, “After leasing out 32 000 m2 in SO Ouest last year by way of a 12-year lease renewal for ca. 26 700 m2 signed with SAP and long-term leases for ca. 5 000 m2 with Industrious and Meiyume, this refinancing deal clearly reflects a high level of confidence in our asset management capabilities and the underlying value of the asset.”
Philippe DEPOUX, President of La Française REM said, “In an era of market uncertainties and high interest rates for longer, La Française REM is redefining real estate asset management to attract tenants, reduce vacancies, protect assets and ensure property values. I would personally like to congratulate our asset management team, Xavier BARREYAT, Cédrick BECKER and Valentin BIESSY on the management of SO OUEST.”
For this operation, La Française Real Estate Managers was advised by Ashurst on legal and Flusin Miralles Esteve on the notarial aspects.