Corio portfolio formally acquired by White Estate Investments
30-09-2008
Corio and the consortium led by White Estate Investments (WEI) have today successfully finalized the acquisition of Corio’s Dutch office and commercial property portfolio. The transaction volume, including costs and taxes, amounts to approximately EUR 700 million.
Led by White Estate Investments (WEI), the acquisition of Corio’s Dutch office and commercial property portfolio has now been finalized. On 25 April this year a consortium of Dutch investors signed the purchase contract.
The portfolio comprises a total of 11 industrial buildings, 2 multi-storey car parks and 35 office buildings with a lettable floor area of 430,000 sqm. A major part of the total portfolio has been structured to form the Omega Fund. The office buildings are mostly located in the Randstad conurbation, each one with an average area of about 5,000 sqm. The fund has an opportunistic character and will be optimized through active asset management. The management of the Omega portfolio is in the hands of WEI. The industrial properties and a number of trophy buildings on long leases have recently been sold to a number of institutional and other investors.
At the same time as the transfer of the portfolio, eleven employees of Corio Nederland Kantoren have entered the employment of White Estate Investments. This is in line with WEI’s aim to achieve growth and broaden its investment management activities.
For this acquisition Loyens Loeff acted as legal adviser, Royal Haskoning assessed the technical and environmental aspects of the portfolio, PKF Wallast acted as tax adviser and DTZ Zadelhoff acted as valuer. FGH, SNS and HSH Nordbank acted jointly as financing partners, FGH acting as lead arranger.
News
02-09-2024
PingProperties reduces annual like-for-like CO2 emissions by 40% in 5 years
Last year PingProperties drew up its ESG policy, linking it to specific targets. One of these targets is to provide an insight into CO2 emissions in its portfolio.
22-04-2024
PingProperties starts energy management pilot for its hotel ibis Styles Amsterdam Airport
PingProperties has started a pilot to optimize the energy consumption of its hotel ibis Styles Amsterdam Airport to achieve Paris Proof by 2040.
15-04-2024
PingProperties signs new lease with Trekpleister for Stadshart Daily Plaza in Zoetermeer
PingProperties has signed a new long-term lease with ‘Trekpleister’ for Stadshart Daily Plaza covered shopping centre in Zoetermeer. The chemist will lease around 250 m² of retail space on the first floor opposite Dirk supermarket. Trekpleister expects to open its doors in festive style in December, at the same time as Dirk.