PingProperties finalizes refinancing agreement with Berlin Hyp.

08-02-2018

PingProperties has finalized a refinancing agreement for the PingProperties Office fund VII. The finance, that was already in place with property financier Berlin Hyp, has been extended by five years.

 

PingProperties Corporate Office fund VII has held the office complex at Prinses Beatrixlaan 800 in The Hague in its portfolio since 2013. The complex has a floor area of approx. 29,065 m² and has 542 parking spaces. Accessibility is excellent, as the complex is within walking distance of the Laan van NOI railway station and the Randstadrail. It is also easy to reach by car thanks to its location right next to the A12 motorway.

 

There is considerable activity at present in the Beatrixkwartier. New buildings are being developed and existing buildings are being renovated. Apart from offices, these new plans also include residential property and amenities, such as a hotel and shops. This combination of activities creates a lively, urban atmosphere in the area.
The building is fully let to Siemens Nederland b.v. on a long-term lease. Siemens is one of the largest electronics and technology companies in the country.

 

For this extension of the fund financing arrangement, PingProperties was advised by Loyens & Loeff.

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