(Boursier.com) — Patron Capital, a pan-European institutional investor in real estate, and Edmond de Rothschild REIM France (EDR REIM France) have signed a green loan of 68 million euros with pbb Deutsche Pfandbriefbank for the refinancing of the Creative building – building of 12,000 m(2) of offices.
Located at 1 rue Pasquier in Levallois-Perret, a strategic district on the edge of Neuilly-sur-Seine, Creative was acquired by Patron Capital in 2018. Since then, it has undergone a major restructuring to create additional surfaces, a 600 m(2) roof terrace, and to meet ESG requirements. In 2022, LVMH Fragrance Brands, a subsidiary of the LVMH group, signed a 12-year lease covering the entire asset.
Designed by the architectural firm DTACC, Creative offers 12,000 m(2) of office space, including 3,000 m(2) of service spaces dedicated to the tenant, including two restaurants and a gym, a lobby triple height entrance as well as charging stations for electric cars.
Keith Breslauer, Managing Director or Rafael Fitoussi, Chief Investment Officer at Patron Capital, said: “We acquired Creative as we recognized the significant potential it could offer following a strategic refurbishment program aimed at creating a high quality office. quality focused on sustainability in the popular Levallois-Perret market. Our confidence in this strategy was rewarded when we entered into a 12-year lease with LVMH Fragrance Brands in 2022. Now, securing a loan of renowned lender such as pbb is confirmation of both our business plan for the asset and the recognition of ESG criteria for the building.”
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