PingProperties reaches refinancing agreement


PingProperties has succeeded in concluding an agreement on refinancing the PingProperties Office fund I (OGON), the former Oranje-Nassau portfolio. The total refinancing amounts to approx. 141 million euros and will run until October 2016. The banks involved in this transaction are ING Real Estate Finance and SNS Property Finance.


One element of this refinancing is the addition of three office buildings. One involves the acquisition of the office building at Daltonlaan 700 in Utrecht. Apart from the ground floor and first floor, this building is fully let to BAM Utiliteitsbouw B.V. (Utrecht region) and was renovated in 2009. It is centrally located in Rijnsweerd and has an excellent parking ratio. The other two acquisitions concern two buildings adjacent to each other, Loevestein A and Loevestein B at Loevestein 33 in Ede. The total complex comprises approx. 5,638 m² of office space spread over three floors and is fully let to Nationale Nederlanden.


These acquisitions mean that PingProperties Office fund I now has a total of 12 high-quality office buildings in its portfolio, with a total lettable floor area of 72,195 m².

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