PingProperties finalizes refinancing agreement with Berlin Hyp.
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.
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.
PingProperties concludes agreement with Schiphol Commercial for the expansion of ibis Styles Amsterdam Airport hotel
PingProperties is concluding an agreement with Schiphol Commercial for an allocation under a ground lease to expand its ibis Styles Amsterdam Airport (ISAA) hotel at Piet Guilonardweg 3 in Schiphol Oost. It concerns a ground lease for approx. 4,000 m2 LFA which will enable the hotel to add around 127 extra guest rooms, bringing the total to 270 rooms once the extension has been completed. Planning permission has been submitted to the Municipality of Haarlemmermeer for its assessment. PingProperties expects to complete the hotel extension in mid-2025.