PingProperties sells headquarters of BAM Infra in Gouda
08-09-2020
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.
This transaction concerns the last building in the PingProperties Corporate Office Fund I, which formerly comprised the buildings Het Boek (head office of the Tax and Customs Administration in Amsterdam), Jacobsweerd and Trappenburch (both in Utrecht). The fund has been very successful, with a high realized return and satisfied investors and lessees.
The excellent relationship with the lessee has resulted in a strong strategic partnership between PingProperties and BAM over the past years. Various large-scale redevelopment projects have been achieved by this partnership. The purchaser was assisted commercially by Basis Bedrijfshuisvesting and received legal assistance from Osborne Clark. Loyens & Loeff acted as legal adviser for the vendor.
Creating a lasting difference
PingProperties purchased the office building in 2008 direct from BAM Infra by means of a sale-and-leaseback arrangement. In the same year the building underwent a major refurbishment and modernization, while in 2015 new fixtures and fittings were installed. At the moment, a large-scale sustainability improvement project (to energy label A) is nearing completion. Various energy-saving modifications, such as replacing the air-conditioning system, installing solar carports and wall insulation, will make the building fully future-proof.
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