Mainz, January 16, 2007 - Westdeutsche ImmobilienBank AG (WIB) has taken a share of around € 17.3 million in the facility for financing the purchase of the Philips Headquarters in Poland.
The four-floor Class A office building is situated in a very good, non-central location in Aleje Jerozolimski in an office market with well-known tenants. Built in 1999 on a freehold plot measuring approximately 7,000 square meters, it has a lettable floor space of 5,750 square meters and parking for 170 cars.
The borrower is Guardian Managers Limited. The building has been acquired for “The New Europe Emerging Cities Fund Limited” fund, which already owns three properties in Budapest, Hungary and one in Bonn, Germany. It is a real estate fund incorporated and operating in accordance with English law and is not listed on the stock market.
The principal tenant is Philips Polska Sp. Z o.o., a wholly owned subsidiary of Philips International B.V., one of the world’s largest producers of electricals and electronics.
WIB is a wholly-owned subsidiary of WestLB AG and the center of competence for all of the group’s real estate financing and transactions. In addition to its offices in Mainz (headquarters) and Münster, it has national operations in Düsseldorf, Hamburg, Munich and Mannheim and international operations via a branch in London as well as representative offices in Madrid, New York, Paris and, since January 1, 2007, also in Warsaw.
Westdeutsche ImmobilienBank AG
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