Allianz Real Estate and BNP Paribas Real Estate have joined to grant a €185m ($226m) loan to Icawood, a fund specialising in low-carbon developments, for a restructuring operation of a building complex located in the 18th arrondissement of Paris, with Allianz supplying the majority of the financing (78%).
This complex will hold office and retail space in addition to a 78-room student residence. The construction technique, which uses a timber structure, is expected to reduce the property’s carbon footprint.