July 26, 2006 - Acting as arranger, underwriter and agent, Westdeutsche ImmobilienBank (WIB) has arranged the financing of prime real estate in the centre of Paris on behalf of the Italian property firm Risanamento SpA.
Fully renovated in 2004, the Etoile Actualis building on Boulevard Haussmann is at the best location in the centre of Paris, directly beside the Paris Opera and opposite Galeries Lafayette department store.
The Etoile Actualis property has a varied history dating back to the 18th century. Due to its historic past and its special architecture characterized by diverse styles, it has been under a preservation order since 1977.
The building avails of just under 14,700m² office space providing 1,080 workplaces, 4,600m² retail space, 12 apartments and 178 parking spaces. Its lessees include Rémy-Cointreau.
In conjunction with WestLB Milan, WIB devised structured long-term finance of €243 million for Risanamento SpA, the second-largest property firm in Italy.
WIB is a 100%–owned subsidiary of WestLB and the specialist for all property finance and transactions in the WestLB group. In addition to its offices in Mainz (head office) and Münster, it has locations nationally in Düsseldorf, Hamburg, Munich and Mannheim, and internationally in London together with its representative offices in Madrid, New York, and Paris, and plans to open a representative office in Warsaw in the fourth quarter.
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