Commerz Real: CFB fund 165 – ÉPIC SNCF extends lease agreement for Paris office property Euro Alsace

Commerz Real has secured a long-term use for its entrepreneurial shareholding in CFB fund 165, the Parisian office property Euro Alsace. The new agreement with the sole tenant ÉPIC SNCF (Établissement Public à Caractère Industriel et Commercial Société Nationale des Chemins de Fer Francais) will end after nine years. Thus the lease agreement concluded in October 2008 for a total lettable space of approximately 16,000 square metres and 49 underground car parking spaces has been extended more than one and a half years before it was due to expire.

Roland Holschuh, the member of the Management Board of Commerz Real AG responsible for Real Estate Asset Management: “We are very pleased that we have attained our objective of persuading the tenant to conclude a premature extension of the lease agreement for this centrally located office property. By securing ÉPIC SNCF as a tenant with a high creditworthiness rating and an outstanding reputation, we are fulfilling the prerequisites for an ongoing stable investment.”

The property Euro Alsace is a complex of buildings in the 10th arrondissement of Paris, approximately three kilometres north east of the central business district (CBD). It comprises three structures arranged in a U shape and has two sub-levels and six upper floors. Its modern fit-out and the possibilities for a flexible layout of the areas, as well as its location in the immediate vicinity of the railway station Gare de l’Est, underline the special qualities of the property.

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About Commerz Real
Commerz Real is a fully-owned subsidiary of Commerzbank AG with more than 40 years of market experience and approximately 32 billion euros in assets under management. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund hausInvest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships. In its role as leasing company of Commerzbank Group, Commerz Real offers tailored equipment leasing concepts along with bespoke financing arrangements for assets such as real estate, big-ticket equipment and infrastructure projects.
www.commerzreal.com

Press contact Commerz Real:
Markus Esser
Head of Communications
phone +49 611 7105-4485
fax +49 611 7105-5510
markus.esser@commerzreal.com

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