ZUBLIN IMMOBILIERE : Züblin Immobilière France : capital increase, convertible bond issue, strengthening of operational structure, refinancing of bank debt, changes in governance

Press release         
Neuilly-sur-Seine, July 31, 2015

Züblin Immobilière France: capital increase, convertible bond issue, strengthening of operational structure, refinancing of bank debt, changes in governance

Real Estate Opportunities Fund I, an investment vehicle affiliated to TwentyTwo Real Estate and Massena Partners, becomes the largest shareholder

Capital increase and convertible bond issue for an aggregated amount of €32.3M

As announced June 12, 2015 by Züblin Immobilière France, the company REOF Holding Sàrl (subsidiary of Real Estate Opportunities Fund I) and the company TwentyTwo 1 Credit sàrl, respectively subscribed to a reserved capital increase of Züblin Immobilière France of € 11.5 million and to a reserved issue of bonds convertible into Züblin Immobilière France shares for € 20.8 million.

REOF Holding also acquired all the bonds redeemable in Züblin Immobilière France shares held by Lamesa Holding. REOF Holding now holds 50.1% of share capital and voting rights of Züblin Immobilière France (on an undiluted basis). The transaction has no impact on the SIIC regime.

These transactions, which are described in the prospectus published July 22, 2015 (AMF visa 15-402) were authorized by the Annual General Shareholders Meeting on July 27, 2015.

New Mortgage loan for €132M

Concomitantly, Helaba bank has granted Züblin Immobilière France and its subsidiary Züblin Immobilière Paris Ouest 1 a mortgage loan of € 132 million for a period of 5 years. Existing bank debts have been fully reimbursed today.

Strengthening of the operational structure

The management of the real estate assets held by Züblin Immobilière France and its subsidiary Züblin Immobilière Paris Ouest 1 was assigned today to SCAPRIM Asset Management, a subsidiary of SCAPRIM SERVICES, the French real estate services arm of TwentyTwo Real Estate, also acting as advisor to Real Estate Opportunities Fund I on the transaction..

Changes in Governance

Anne Genot, Muriel Aubry, Philippe Couturier, Daniel Rigny and Alexander Gruca become members of the board of directors in replacement of Corinne Bourbon, Anna Samoletova, Vladislav Osipov, Yakov Tesis and Pierre Essig. Philippe Couturier was appointed chairman.of Züblin Immobilière France. Pierre Essig was confirmed in his position as CEO, non director.
For more information regarding the profile of newly appointed directors please see below or visit the company web site: www.zueblin.fr:
http://www.zueblin.fr        

Following these changes, the governance of Züblin Immobilière France is organized as follows:

Board of directors

Philippe Couturier            Chairman
Daniel Rigny                    director
Anne Genot                     director
Iosif Bakaleynik               director
Muriel Aubry                    independent director
Alexandre Gruca             independent director

Management

Pierre Essig                     CEO
Eric Berlizon                    CFO

Shareholders

Advisors

Züblin Immobilière France was advised by BNPParibas, Jones Day, Jeantet and Fairway
Real Estate Opportunities Fund I was advised by Scaprim Services, Allen & Overy and Lasaygues
Züblin Immobilien Holding AG was advised by Baker & McKenzie
Helaba was advised by Allez and Archers

Contacts
Eric Berlizon, Chief Financial Officer, Züblin Immobilière France
20-26, boulevard du Parc, 92200 Neuilly-sur-Seine
Tel. +33 (0)1 40 82 72 40, info@zueblin.fr:
mailto:info@zueblin.fr
For more information, visit the company web site: www.zueblin.fr:
http://www.zueblin.fr

About Züblin Immobilière France
Züblin Immobilière France is a listed property company that opted for SIIC status, which invests in office property. Its real estate portfolio consists of five office buildings in the Paris region and in Marseille.
Shares of Züblin Immobilière France trade on compartment C of Euronext Paris market of Nyse Euronext - ISIN: FR0010298901

About TwentyTwo Real Estate
Founded by Daniel Rigny in 2012, TwentyTwo Real Estate is a privately-held independent real estate firm that specializes in real estate investments, asset and property management in Europe. Based in London, Paris and Luxembourg, TwentyTwo Real Estate has completed investments in assets valued at €1.35 billion.
www.twentytworealestate.com:
http://www.twentytworealestate.com

SCAPRIM SERVICES, the real estate services subsidiary of TwentyTwo Real Estate in France, offers to institutional clients a "one-stop-shop" range of services dedicated to the management of real estate assets and value creation.  SCAPRIM SERVICES manages circa €6.5 billion of assets comprised of 1,200,000 m² of office, industrial and retail assets as well as circa 18,000 residential units. SCAPRIM SERVICES operates all over France through four regional headquarters and 12 local agencies employing a total staff of 150.
www.scaprim.com:
http://www.scaprim.com

About Massena Partners
Massena Partners is an investment firm created 25 years ago by Frank Noël-Vandenberghe advising private investors for their wealth and investment management. Massena invests in all assets classes, and has a special know-how in non-listed assets: private equity, private debt and real estate. Massena currently manages $2.5 billion out of which $1 billion in non-listed assets. It is employing a total staff of 50 in Luxemburg, Paris, London, Geneva and Montevideo. The firm is 100% owned by its partners.
www.massenapartners.com:
http://www.massenapartners.com

Muriel Aubry
Real Estate CEO of La Mondiale group
Muriel Aubry has 30 years years of professional experience in real estate.
She began her career at Bouygues Immobilier, a real estate development subsidiary of the Bouygues Group where she served for 20 years as a promoter in residential real estate business.
In 2007 she joined La Mondiale, a life and pension insurance company, as Real Estate Director of the group. She managed a portfolio of 500,000 m² worth 3Mds euros mainly composed of offices located in Paris and "la petite couronne". With a multidisciplinary team of 40 people and further the ongoing patrimony management, she especially developed projects in future state of completion (Up West Boulogne, Paris Rive Gauche Panorama, Batignolles Season), carried out major restructuring patrimony (Duret, Rocher, Issy Les Moulineaux) and sold either non-core assets or at maturity assets.
In addition to operational activities, Muriel Aubry led a driving change policy following the merger with AG2R and then followed the control and risk management by setting up procedures.
The combination of these two professional experiences has enabled her to establish a rich and varied network of relationships, to have a sense of an acute product/market and to develop a long-term strategic vision.

Alexandre Gruca
Alexandre Gruca has 15 years of experience in finance and investment management, of which more than 10 years in real estate.
Since 2012, he advises institutional real estate private equity funds on various real estate and debt related aspects of their holdings.
Prior to his current role, Alexandre worked as a director for RREEF (Deutsche Bank) where he completed real estate transactions with an aggregate value in excess of €3 billion across several European countries.
Prior to RREEF, Alex was part of Deutsche Bank's leveraged finance team.
He also spent 4 years as a ranked equity research analyst with Morgan Stanley's equity research department.
Alexandre holds an MBA from the Wharton School and a Diplôme de Grande Ecole from ESCP Europe.