Hypo Real Estate Bank International has provided a EUR 32 million refinancing facility for the Aert van Nesstraat 45 in Rotterdam to Woudstaete and Haagsche Olifant ("the consortium"). In order to provide maximum added value, the loan has been "sliced" in three different tranches, one of which is in Swiss Francs. The transaction closed on July 22nd 2005.
The consortium is a holding company owned by five Dutch private investors who are actively focusing on investments in the Randstad, the main conurbation in the west of the Netherlands.
Aert van Nesstraat 45 is a fully let property located in the centre of Rotterdam and provides approximately 22,000 sqm and 300 parking spaces. The main tenants are ABN AMRO and UWV, a government body.
Commenting, Harin Thaker, CEO Europe/European business platform, said: "This multi-currency refinancing of an existing facility is structured in a way that provides substantial flexibility and added value to the client. It is a good example of our ability to structure financing to meet a client's requirement."
Source: Hypo Real Estate Bank International