Cascade complex in Groningen refinanced with Berlin Hyp
PingProperties recently concluded a refinancing deal for the Cascade complex in Groningen on behalf of the PingProperties Office fund IV. The existing financing was already arranged with Berlin Hyp and is being continued in the same manner. PingProperties arranged this extension of the fund’s financing itself. The complex has a floor area of approx. 34,187 m² and 341 parking spaces. The sustainability of the complex will be further improved in 2020 to achieve Energy Label A throughout.
The Cascade complex is situated at a unique location right next to Groningen Central Station. The complex is the largest multi-tenant government building in the Netherlands and accommodates 17 different government agencies. PingProperties Corporate Office fund IV has a large part of the Cascade complex in its portfolio. The first part was purchased in 2011, followed by a second part in 2015. This prime location is operated with several triple-A lessees (Central Government Real Estate Agency (RVB), the Employee Insurance Agency (UWV) and the Land Registry) and is leased for the long term. PingProperties Corporate Office fund IV now owns seven of the nine Cascade buildings. This consistent strategy has enabled PingProperties to add sustainable value to the Cascade complex, so that by the end of 2020 all of the complex will comply with Energy Label A.
First phase of the area development project Arnhem is completed
Teijin Aramid moves into new head office.
Teijin Aramid, global leader in aramids, is moving into its new head office at Tivolilaan 50, on the former AKZO ENKA site in Arnhem. The head office of 5,000 m2 is housed within the skeleton of one of Teijin Aramid’s old laboratories. During recent months the building has been completely transformed by BAM for PingProperties into an inspiring head office. During the coming years, the former AkzoNobel-ENKA site will be developed into a multifunctional area combining homes, work and education. The move by Teijin Aramid into its new head office marks the completion of the first phase of this unique area development project.
PingProperties concludes lease with Maandag secondment company
PingProperties recently concluded a lease with Maandag secondment company for its building at Lichtenauerlaan 80 in Rotterdam. The office building is located at Brainpark II business park and has energy label A. The lease if for 553 m² LFA of office space and 14 parking spaces and will take effect on 1 October 2020.
Handover of new Teijin Aramid head office in Arnhem
On behalf of ‘PingProperties Corporate Office Fund I B.V.’, PingProperties has sold the head office of BAM Infra in Gouda. The office building comprises a floor area of 8,640 m² LFA and 237 parking spaces,. The lease with the lessee was recently renewed for the long-term (12 years). Despite the current market situation, PingProperties has once again achieved a successful capital market transaction.