Strategic investment partner of PingProperties expanding its stakeholding
One of PingProperties’ investment partners is expanding its stakeholding in no fewer than seven funds in the Corporate Office Fund portfolio. In some funds the investor is buying shares, while in other funds it is joining as a new investor.
The withdrawing investor has achieved an average of 12% IRR over a period of eight years. The value of the underlying properties amounts to approx. 150 million euros.
PingProperties shows with this new share deal that it is possible for its investors to join and withdraw from funds, while PingProperties remains involved for the long term as a co-investor and manager.
PingProperties extends lease with Gall & Gall in Carnisse Veste shopping centre in Barendrecht
PingProperties has recently extended the lease with Gall & Gall (Ahold) for the long term. The lease is for approximately 223 m² of retail space on the ground floor of the covered arcade at Van Beuningenhaven 9.
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.