The mezzanine bond financing granted by TwentyTwo Credit I to CODIC group has been fully refinanced following practical completion of the Resonance property
TwentyTwo Real Estate (“the Company”) is pleased to announce that Resonance, a 24,000 sqm office property located in Bagneux, France was delivered in June 2016 by Belgium developer CODIC.
The quality of the property and its letting status enabled CODIC to refinance the property with a new senior mortgage facility, fully repaying the €24 million mezzanine financing granted in July 2014 by TwentyTwo Credit I, an investment vehicle managed by the Company.
Daniel Rigny, founder of TwentyTwo Real Estate said:
“This investment illustrates the capacity of TwentyTwo Real Estate to source, execute and deliver attractive real estate investments. We are pleased to have supported CODIC in its landmark development project, the first office building to be delivered as part of the Grand Paris Express program.”