PingProperties concludes a sale and-leaseback agreement with ABN AMRO

01-04-2016

PingProperties has reached agreement with ABN AMRO N.V. concerning the purchase of the ABN AMRO office building at Daalsesingel in Utrecht for the new PingProperties Corporate Office Fund X. This building, which will then be leased back to ABN AMRO on a long-term basis, meets all current standards expected of office buildings and is exceptionally sustainable with energy label A and a BREEAM Very Good certificate. This deal concerns a total of 8,254 m² and 100 parking spaces.

The building is situated at a prime location right next to Utrecht Central Station. This district is being totally revitalized and made greener. After forty years, water has once again been flowing along Catharijnesingel since the end of last year, cars are making way for pedestrian routes along the waterfront and space is being created for restaurants, bars and shops.

The new fund consists of a select group of participants, one of which is PingInvestors. PingInvestors is a regular co-investor in a new PingProperties fund.

PingProperties obtained legal advice for this transaction from Houthoff Buruma. ABN AMRO received legal assistance from Loyens & Loeff and was also advised by JLL.