PingProperties launches new fund ' PingProperties Corporate Office fund V '


Recently, PingProperties has launched the new PingProperties Corporate Office fund V, in which the high-quality office building of Canon Nederland in ‘s-Hertogenbosch and the redevelopment project Bloeyendael in Utrecht, which is made for PLUS Retail , are placed. PingProperties has obtained a new long-term financing arrangement with ING for this fund.


The fund
PingProperties Corporate Office fund V is characterized by above average strong cash returns and has a low risk, because the objects are long-term leased to two highly creditworthy tenants; Canon Nederland and PLUS Retail. The fund has a duration of 5 years and consists of a select number of participants. One of the fund participants is PingInvestors. PingInvestors, also the management of PingProperties is a fixed co-investor in a new PingProperties fund. As a result, the fund is being controlled in an extremely critical and creative manner.


The Canon office complex was fully renovated in 2005, has a high level of finish and is situated at an excellent location along the A2 motorway. For many years, Pettelaarpark has been one of the most prominent and successful highway locations in the Netherlands. The total lettable floor area is approximately 10,350 sqm with 475 parking spaces (from late 2013). In 2013 the fund will add a new parking terrain, to create an excellent parking ratio (1:21). Canon is also investing in the building to make the preparation for the new way of working. Eventually, approximately 200 additional employees will be housed, bringing the total to 600 employees in the building.


The office building Bloeyendael at Archimedeslaan 21 in Utrecht, Rijnsweerd North, had been empty for quite some time. PingProperties has managed to convince PLUS Retail of the prime location of the object and thus managed to conclude a long-term lease agreement. Bloeyendael is currently being transformed into an entirely standalone building with its own identity, with energy label B. PLUS Retail combines three locations, including the current headquarters in De Bilt, together in Bloeyendael. A total of 300 employees move along. After redevelopment, the total lettable floor area is approximately 6,700 sqm and 225 parking spaces. In early 2014, the entire redevelopment of Bloeyendael for PLUS Retail will be ready.


Canon is a world leading provider of imaging solutions for consumers and business users. In 2009, Canon Inc. announced the acquisition of Océ, and in October 2012 the legal integration took place between Canon Nederland and Océ Nederland. The headquarters of Canon were established at the Brabantlaan 2 in ‘s-Hertogenbosch, in the building where Océ Nederland was established (since its construction in 1988). In 2007 PingProperties acquired the complex from Océ Nederland through a sale-and-lease-back transaction. Canon Nederland in ‘ s-Hertogenbosch is responsible for the sales, marketing and service activities of Canon for the Dutch market. In the Netherlands, Canon has more than 1,600 employees.


PLUS Retail is the supermarket formula of the Sperwer Group, a wholesale organization in the food sector. The Sperwer Group, founded in 1928, has a cooperative structure; all PLUS entrepreneurs are a member. PLUS stands for Attention, Quality, Local and Responsible. With these four brand values 216 independent PLUS entrepreneurs distinguish themselves with their 259 supermarkets in a highly competitive market. PLUS carries a wide range of fresh and locally produced products, at competitive prices, and shows a strong commitment to the service area of the supermarkets.

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