PingProperties commits to Rotterdam for the long term with competitive refinancing deal
21-06-2019
PingProperties has finalized a competitive long-term refinancing deal with Postbank (part of DB Privat- und Firmenkundenbank AG) for the Eudokiaplein and Retail Rijnmond funds. This new refinancing deal means that PingProperties is able to create a stable and high cash return for the coming years. The agreement is perfectly in keeping with its vision to commit itself for the long term to assets that have high-value potential. In doing so, PingProperties underlines the trust it has in Rotterdam as a growth market for property investment and in the potential of its buildings.
About Eudokiaplein and Retail Rijnmond
The Eudokiaplein residential, retail and business complex is located in the heart of Rotterdam-Noord alongside the Hofbogen railway viaduct. The area is attracting an increasing number of young, financially well-off residents and has a reputation as a trendy and upcoming city district. With more than 55,000 visitors every week, the Eudokiaplein shopping centre provides a large number of those living in Rotterdam-Noord with their day-to-day shopping needs. The offices in the complex accommodate a range of social organizations focusing on care and welfare. This mix of businesses and organizations, which complement both the complex itself and the neighbourhood, exerts a considerable attractive force and creates a strong sense of community. The complex has an important neighbourhood function and is the ‘Well-being Centre’ for the area.
The Retail Rijnmond fund comprises two light industrial complexes located in the outskirts of Rotterdam, close to the A15 and A20 motorways. The location is strategically placed for last-mile delivery between the city centre and logistic supply routes, including the Port of Rotterdam.
PingProperties was assisted in this refinancing deal by Bond Advocaten.
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