PingProperties finalizes refinancing with Berlin Hyp for the Cascade complex in Groningen
11-01-2019
PingProperties has extended the financing arrangement, which was already in place with Berlin Hyp, for the PingProperties Office fund IV.
PingProperties Corporate Office fund IV has had the Cascade complex at Cascadeplein 2-10 and Emmasingel 1-5 in Groningen in its portfolio since 2011. This sustainable complex, which will achieve energy label A in its entirety in the coming year, has a floor area of approximately 34,272 m² and has 341 parking spaces.
The office complex
The Cascade complex is situated at a unique location in the centre of Groningen, immediately next to the central station. The complex is characterized by its government-related lessees, which have been accommodated here since the complex was completed in 1997-2000, and by the excellent quality of the buildings. The buildings are let on long-term leases to a variety of government agencies. PingProperties Corporate Office fund IV now owns seven of the nine Cascade buildings.
PingProperties brought about this extension of the fund financing arrangement itself.
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