Conversion of a car park into offices in the Marais district in Paris

SHIFT CAPITAL advised Immobel, the leading developer quoted in the Belgium stock exchange, on the acquisition financing of a 5,000 sqm car park building located Rue Saint-Antoine, in Paris, to convert it into offices. This tertiary opportunistic development for which a building permit has been requested has been bridged by a French bank. SHIFT CAPITAL advised Immobel during the initial marketing phase with the prospective lenders on deal presentation, discussions, visits and negotiation of terms sheets, and subsequently assisted throughout the whole closing process in the loan documentation negotiation and coordination of third parties. Since its French setting-up 2018 year-end, this listed developer has already 3 development projects in their portfolio, i.e. 50,000 sqm: 1 in Paris, 1 in Rueil-Malmaison (92) and 1 in Montrouge (92).