PingProperties refinances the former Enka/AkzoNobel site in Arnhem with NIBC Bank
PingProperties has refinanced the PingProperties Corporate Office Fund III with NIBC Bank, involving the former ENKA/AkzoNobel site at Velperweg in Arnhem. This involves an extension of the term as well as additional finance. Previously NIBC financed approx. 34,500 m2; now it is financing the entire complex (approx. 70,000 m2) and the forthcoming development and redevelopment.
In 2012 PingProperties purchased 7 hectares at this site, with 70,000 m² of office and laboratory buildings. Later PingProperties acquired further plots of land at the site of more than 7 hectares, 5 hectares of which it sold to the KlokGroup/BPD in 2017 for the development of a residential district with a high-quality living environment at this site. In December 2018 PingProperties completed negotiations with existing and new lessees. This also marked the start of a large-scale city-centre development. These long-term leases have been the preconditions for finalizing the refinancing arrangement.
Redevelopment as a multifunctional area
The long-term leases entered into with the existing lessee, Teijin Aramid, and newcomer RijnIJssel will ensure an element of continuity at the site. The arrival of RijnIJssel has also added the educational function to the existing working function. The former ENKA/AkzoNobel site will be transformed in the coming years into a multifunctional area combining work, homes and education.
This refinancing was brought about by PingProperties itself, advised by Loyens & Loeff. NIBC was assisted by NautaDutilh.
PingProperties extends lease with Gall & Gall in Carnisse Veste shopping centre in Barendrecht
PingProperties has recently extended the lease with Gall & Gall (Ahold) for the long term. The lease is for approximately 223 m² of retail space on the ground floor of the covered arcade at Van Beuningenhaven 9.
RVB renews lease and expands in the Cascade complex in Groningen
PingProperties has concluded a lease with the Central Government Real Estate Agency (Rijksvastgoedbedrijf – RVB) for approx. 13,500 m² in the Cascade complex in Groningen. Besides the complex’s central location near the station and its architectural and structural quality, the sustainability improvements are a major reason for the RVB to commit itself to the complex for the longer term. The renewed lease is for approx. 8,600 m2 of office space and 70 parking spaces at Cascadeplein 8-10, with the addition of approx. 4,870 m2 of office space and 69 parking spaces at Cascadeplein 1-3. This means that the Cascade complex is now fully let.
PingProperties concludes new lease with food retailer Eat Kip for Passage Schiedam shopping centre
PingProperties recently concluded a 5-year lease with food retailer Eat Kip for approx. 200 m² GFA in Passage Schiedam shopping centre. Eat Kip’s business will be at a prominent location in the unit directly next to the entrance from Broersvest.