HFF Real Estate Limited (HFF) announced today that it has arranged €30 million in financing for Weena 200, a 173,000-square-foot landmark office building in Rotterdam, Netherlands.
HFF advised neo capital (neo), the London-based real estate investment and asset management firm, on the five-year, floating-rate acquisition loan.
Weena 200 is situated in the heart of Rotterdam’s central business district with immediate proximity to Rotterdam Central Station, which is the third largest train station in the Netherlands, and provides accessibility to the local metro, tram and bus routes. The highly prominent building was renovated in 2016 and is 81% leased to 30 different tenants operating across 20 business sectors, including real estate, shipping, healthcare and serviced office sectors.
The HFF debt placement team representing the borrower was led by managing director Claudio Sgobba, and director Andrew Hornblower.
“As one of our core client relationships, we are very pleased to have completed our third financing on behalf of neo capital in the last 24 months,” Sgobba said. “They consistently identify and perform on attractive income-generating opportunities with strong upside. Neo capital’s business plan is emblematic of their asset management expertise, as their hands-on efforts will generate a 33% increase in rents over the first few years of ownership. As a result of their success, neo’s sterling reputation has elevated them to become a top-tier global investment manager with activity in Europe, North America and the Middle East.”
Deborah Watt, Head of Real Estate at neo capital, added, “We are pleased to have acquired our first commercial asset in the Netherlands with the purchase of Weena 200. It is in a prime location with fantastic connectivity and is let to a range of tenants producing a well-diversified income stream. The building was refurbished recently and is therefore attractive to new occupiers and offers the potential for rental growth. This is exactly the type of asset that neo capital is looking to invest in – good location, good connectivity, good tenants and which will allow us the opportunity as asset managers to improve and develop the asset for the betterment of our occupiers.”
About neo capital
neo capital is an independent Investment Advisory and Asset Management company founded in 2015. It has unrivalled access to Ultra High Net Worth individuals globally and has $700 million of assets under management. The company has several projects underway in Western Europe and the US and aims to double its AUM to $1.4 billion.
neo capital’s philosophy is to provide best in class investment advice to their clients so they can gain exposure to US and European real estate markets.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.