Clifford Chance advises ABN AMRO on financing construction of Solliance Building (NL)

International law firm Clifford Chance advised ABN AMRO Bank NV in its role as lender of a loan to the Chalet Group for the construction of the Solliance Building, a high tech building located at the High Tech Campus in Eindhoven.

Main tenant will be Solliance, which is a joint venture of TNO, TU Eindhoven, Holst Centre, ECN, imec and Forschungszentrum Julich, involved in the development of so-called roll-to-roll solar cell production. The loan is part of the original financing from March 2012 for the acquisition of the High Tech Campus Eindhoven by a consortium led by Marcel Boekhoorn from Koninklijke Philips Electronics NV. Clifford Chance was also legal advisor to ABN AMRO Bank NV and NIBC Bank NV as the original financiers.

Clifford Chance counsel Jan-Joost van Rijsbergen: "In this turbulent real estate market, the financing of this type of building for a joint venture involved in state-of-the-art technology is great news. We consider it a great stimulus to the development of this high tech economic area and in particular to the High Tech Campus. We are pleased to have been able to assist ABN AMRO on this transaction."

The Solliance Building, which will be constructed by Heijmans, has about 2,700 m² of office space and a production space with laboratories of at least 2,200 m². Completion is expected to take place early 2014. Solliance' new housing is aimed at optimizing cooperation between the various partners and forming an attractive partner for the industry. It will house dozens of researchers and developers of the research incubator, who will be seconded by its partners. The High Tech Campus, that focuses on open innovation, encounters and interaction, would be the ideal location for further development of the research incubator.

Jan-Joost van Rijsbergen (Counsel - Amsterdam) led the Finance team on this transaction, which also consisted of kandidaat notaris Krishna van Zundert, associate Jasper Dijkshoorn and trainee lawyer Amin Tamaddoni.

Source: Clifford Chance

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