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Cheyne Capital provides senior loan for French office refurbishment

Alternative asset manager Cheyne Capital Management (UK) LLP (Cheyne Capital) has provided a EUR96 million senior loan to finance the refurbishment of a large office building in Paris, France. 

This investment marks the latest stage in the growth of Cheyne’s French lending platform, which has originated EUR450 million in the past 18 months.   
 
The property, Colisée II, comprises 11,488 sq m of office space, as well as 627 sq m of terrace, and forms part of a broader 70,000 sq m building complex which offers a number of shared services to tenants, including a restaurant and a swimming pool. It is located in Clichy, adjacent to the 17th arrondissement, and benefits from strong transport links, being located just 500m from the Réseau Express Régional (RER) and 400m from the future line 14 metro station Saint Ouen, one of the future transportation hubs of the ‘Grand Paris’.
 
The sponsor, Cain International, intends to carry out extensive refurbishments and to add a significant extension to the property. The newly refurbished building will meet the highest quality and environmental standards and is part of a wider regeneration scheme for the area. FREO is acting as the operating partner.

Source:propertyfundsworld.com on 26 November (https://www.propertyfundsworld.com/2020/11/26/292747/cheyne-capital-provides-senior-loan-french-office-refurbishment)