White Estate Investments concludes deal Penta portfolio
On 19 February 2008 White Rock Investments III took over the Penta portfolio from the English fund Cambridge Place Investments Ltd. As asset manager of White Rock Investments III, White Estate Investments was responsible for this acquisition. The total investment amounted to 68 million euros. The final sales contract was signed at the end of 2007.
The portfolio comprises 4 properties: a shopping centre with offices in Rotterdam; an office building in Capelle aan den IJssel (let on a short-term lease to KPN); a large office building with a lettable floor area of 11,000 sqm located in the centre of Utrecht which is let to the municipality and to the Government Buildings Agency, as well as a fine office buildilng in the Port of Rotterdam let on a long-term lease to the Port Authority. The total lettable floor area of this portfolio is approx. 31,915 sqm, together with some 537 parking spaces.
The portfolio was sold by private tender. In this transaction Jones Lang Lasalle acted as the adviser to Cambridge Place and Savills advised White Estate Investments.
White Rock Investments III, a 100% subsidiary of White Lane Holding, is an initiative of an investment consortium affiliated to White Estate Investments with value creation as its object.
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.