SHIFT CAPITAL advises CeGeREAL for a €400m refinancing

CeGeREAL has secured €400m in financing to replace its bank loan due in March 2013. Aareal Bank, Bayern LB, pbb Deutsche Pfandbriefbank and Landesbank Berlin AG / Berlin Hyp were selected following a European call for tenders.

This successful operation attests to the quality of CeGeREAL’s portfolio of properties, their simple ownership structure and the banks’ confidence in the robustness of the asset base.

The loan is backed by a portfolio of three office properties with a combined surface area of 120,000 sqm. of which 81% is currently let. They include Arcs de Seine, one of the first complexes in the area to obtain HQE “Exploitation” environmental certification.

Raphaël Tréguier, Chief Executive Officer of CeGeREAL, said: “We are very pleased to have completed this €400m refinancing operation ahead of time in a difficult credit environment. Along with the ongoing remarketing of Arcs de Seine, the operation’s success allows us to look forward to the rest of the year with confidence.”

CeGeREAL was assisted by SHIFT CAPITAL (Damien Giguet) to facilitate the negotiations with the banks, by De Pardieu Brocas Maffei (Emmanuel Fatôme, Emmanuel Chauve) for legal and tax advice. The lenders were advised by Godet Gaillard Solle Maraux & Associés (Jean-Maurice Gaillard, Chloé Thiéblemont), and Allez & Associé.