- Club deal consisting of Deutsche Pfandbriefbank AG, DZ HYP AG, NIBC Bank N.V.
- Attractive financing deal for a sustainable Amsterdam office campus
Munich, 18 September 2024 – Deutsche Pfandbriefbank AG (pbb), DZ HYP AG (DZ HYP), and NIBC Bank N.V. (NIBC) have provided the German asset manager HIH Invest Real Estate GmbH (HIH Invest) with the refinancing of the existing investment facility for the office property "Edge Amsterdam West" located in Amsterdam Sloterdijk. The asset is managed by HIH Invest for one of their non-European clients. The €139 million refinancing is structured as a club deal with pbb, DZ HYP and NIBC, with pbb as lead arranger and facility agent. The banking syndicate has been advised on the transaction by the law firm van Doorne N.V. from the Netherlands and HIH Invest was working with CMS Netherlands.
"Edge Amsterdam West" is a premier multi-tenant office complex consisting of two interconnected buildings. Originally constructed in 1974, the property underwent a major renovation in 2021, transforming it into a state-of-the-art, sustainable office space that meets the highest environmental standards. The property has been awarded with an EPC label A++++ and holds a BREEAM Outstanding certificate.
"Edge Amsterdam West” is strategically located in Amsterdam within the Randstad agglomeration, a major economic region that is home to approximately 2.4 million people. Accessibility via both car and public transport is excellent, and Amsterdam Schiphol airport can be reached within 12 minutes. Gerhard Meitinger, Head of Real Estate Finance Germany, said: “Modern and sustainable assets such as ‘Edge Amsterdam West’ fit our financing profile very well. Likewise, we appreciate working alongside with proven asset managers like HIH Invest in mature core markets such as Amsterdam. We are looking forward to future pan-European financing deals of this calibre.”
Peter Müffelmann, Head of Treasury at HIH Invest added: “Choosing the club, led by pbb was a very good decision. All parties involved showed a high degree of flexibility combined with a very professional approach throughout the whole process. We are pleased to accompany and support our international investors in refinancing on the European market.”
pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a leading European specialist lender for commercial real estate finance in Europe and the United States of America. pbb is a major issuer of Pfandbriefe, which makes it also an important player in the European covered bond markets overall. pbb's shares are listed on the Frankfurt Stock Exchange.