DGAP-News

Aareal Bank provides € 210 million financing to Tishman Speyer and PSP Investments for their acquisition of 'Espace Lumière' in Boulogne

DGAP-News: Aareal Bank AG / Key word(s): Financing/Real Estate Aareal Bank provides € 210 million financing to Tishman Speyer and PSP Investments for their acquisition of 'Espace Lumière' in Boulogne 18.11.2020 / 12:56 The issuer is solely responsible for the content of this announcement. Aareal Bank provides € 210 million financing to Tishman Speyer and PSP Investments for their acquisition of "Espace Lumière" in Boulogne

- Repositioning of the magnificent building at the entrance to the city of Boulogne

- Ambition is a genuine positive destination property for its future occupiers by 2024

- The Agreement underlines the strong and sustainable relationship between Aareal Bank, Tishman Speyer and PSP

Wiesbaden, Paris, 18 November 2020 - Aareal Bank AG, acting as Arranger, Agent and Lender has provided a € 210 million loan to Tishman Speyer and the Public Sector Pension Investment Board (PSP Investments) Joint Venture, for their acquisition of Espace Lumière in Boulogne Billancourt from a fund managed by Invesco Real Estate. This iconic 28,000 m² building is the work of Christian de Portzamparc, a leading French architect and urban planner. Since its opening in 2000 it has been occupied by Canal+.

Philippe Joland, Senior Managing Director and President of Tishman Speyer France: "We are delighted with this acquisition in such a special context and with Aareal Bank at our side. With the planned departure of Canal+ in 2022, we will be keen to reposition this magnificent building at the entrance to the city of Boulogne. With such large private outdoor areas, this human-scale campus will perfectly meet the new needs of users in terms of health and well-being, but also flexibility and efficiency. Our ambition is to make this a genuine positive destination property for its future occupiers by 2024. Securing the necessary financing for this joint venture reflects our solid reputation and the strong relationship and trust we have developed with Aareal over the years in Europe. "