German lenders Aareal Bank and Morgan Stanley have arranged a club financing worth € 210 million for the Défense Plaza, an office building in Paris. The financing was arranged for a joint venture between U.S. property investment companies Beacon Capital Partners and Northwood Investors. Aareal obtained a €195 million senior tranche, initially provided by Morgan Stanley, with a junior lender committing another €15 million. Beacon had purchased the building in 2006.
Click here for the release from Aareal Bank.