DWS today announced it has partnered with Societe Generale Corporate & Investment Banking to complete a EUR 205 million refinancing secured by the grade A office building Défense Plaza, in Paris La Défense owned by a fund managed by Northwood Investors.
The facility is split between a EUR 175 million senior facility and a EUR 30 million mezzanine facility fully syndicated to a debt fund managed by DWS.
Strategically located in Paris La Défense, the 14-storey building is built to a high specification comprising over 31,000 square meters and is fully let to a diversified tenant base comprising blue chip international companies.
“We are pleased to work alongside Societe Generale to structure a refinancing deal in support of Northwood against this quality asset in La Defense Paris,” said Alexander Oswatitsch, Head of European Real Estate Debt at DWS. He added: “This transaction reinforces our ability to provide competitive mezzanine financing solutions across Europe, despite the challenging times”.
“This transaction further strengthens the already strong relationship we have with DWS, and demonstrates the Bank’s capacity to structure complex real estate structured financing in the market” comments Jérôme Gatipon-Bachette, Co Global Head of Real Estate Structured Finance for Societe Generale Corporate and Investment Banking.
DWS’s European real estate debt business currently manages EUR 1.9bn in AuM as of March 2020. In 2019, the business most notably completed a sizable mezzanine loan to finance the development of the T1 Tower in Frankfurt, part of the landmark development ‘FOUR Frankfurt’, as well as multiple senior and junior investments across residential and commercial assets in Europe.
For further information please contact:
+44 (0) 20 754 72603
Societe Generale Corporate & Investment Banking
+33 (0)1 42 13 34 37
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 700bn of assets under management (as of 31 March 2020). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.
Societe Generale Corporate & Investment Banking
At the core of Societe Generale group’s diversified and integrated banking business model and economic flows between issuers and investors, the Corporate & Investment bank encompasses market activities as well as financing and advisory expertise. It is part of the Global Banking and Investor Solutions activities which employs around 22 000 professionals and has operations in more than 60 countries, with extensive European coverage and representative offices in Central and Eastern Europe, the Middle East, Africa, the Americas and the Asia-Pacific region.
Supporting its clients across various sectors, the Corporate & Investment bank offers bespoke solutions combining innovation, advisory services and high execution quality.
- For Corporates, Financial Institutions, Financial Sponsors, Sovereigns and the Public Sector: providing strategic advice (M&A, debt, capital structure, and asset & liability management), equity and debt capital market access, structured finance and asset finance’s expertise as well as hedging solutions, especially in foreign exchange and rates.
- For Investors: offering tailor-made and added value investment and risk management solutions through its integrated platform, delivering comprehensive access to markets (fixed income, credit, foreign exchange, commodity, equity and derivatives), as well as innovative services, leading financial engineering, quality of execution, forward-looking research, and prime services and clearing.
For more information, you can follow us on twitter @sg_cib or visit our website www.cib.societegenerale.com