PingProperties improves sustainability of Light Industrial Portfolio with ABN AMRO

14-07-2022

On 1 July PingProperties concluded a financing agreement with ABN AMRO for its Light Industrial portfolio, comprising buildings totalling around 16,500 m2. This finance will be used, amongst other things, for intensive sustainability improvements in energy consumption at two Bob Autowas branches in Ridderkerk and Amsterdam Noord. This new credit is an excellent example of how parties can work together to achieve their sustainability ambitions. PingProperties received legal advice on this transaction by Loyens & Loeff and tax advice from RechtStaete.

For many years BOB Autowas has focused on making its business sustainable. During recent years the carwash company has developed a number of innovations to keep it ahead of the game in its sustainability ambitions. One of the major innovations is an organic, high-tech water recycling system which reuses more than 80% of the water in the carwashes.

These new sustainability plans being carried out in cooperation between PingProperties and ABN AMRO will mean that green energy will supply a large proportion of the energy used in these carwashes. A total of 925 solar panels will be installed on the buildings and will generate around 430,000 kWh a year. This is equivalent to the average annual energy consumptions of 145 households and is expected to be up and running during the second half of this year.

Light Industrial Portfolio
PingProperties has structured in its Light Industrial portfolio a Euromaster tyre centre in Rotterdam Zuid, a Burger King in Schiedam, three BOB Autowas branches in Rotterdam and the surrounding area, and a recently acquired BOB Autowas in Amsterdam Noord. These assets are characterized by solid tenants that have committed themselves to their location and property for the long term.

BOB Autowas
BOB Autowas is the market leader in the Dutch carwash industry. Its philosophy is all about high-quality and innovative carwashes with a focus on the customer experience. Thanks to the innovative systems of BOB Autowas, as many as 250 to 300 cars per hour can be washed during peak times!