Berlin Hyp finances 3 Dutch convenience shopping centers for Pertinea
Pertinea has closed a EUR 20.3 million senior financing with Berlin Hyp for a portfolio consisting of three convenience shopping centers. The assets concern the well located Dutch convenience shopping centers ‘Buytenwegh’ in Zoetermeer, ‘Oudeland’ in Zwijndrecht and ‘Wielwijk’ in Dordrecht. The total lettable floor area of this portfolio is 16,859 sq m divided over 53 retail units. All three assets are anchored by at least two supermarkets including a.o. Albert Heijn, Jumbo, Aldi and Lidl.
The Pertinea platform currently owns, among others, four Dutch convenience shopping centers and targets further expansion in the Netherlands and Belgium.
Philip De Greve, Managing Partner Pertinea: “Berlin Hyp’s financing underlines the solidity of our investments, the strong track record of our management team and the added value of our investor group. The bank’s flexible and consistent approach allows us to focus on our active asset management capabilities as well as on further portfolio growth.”
Rogier Bos, Head of Real Estate Finance Benelux Berlin Hyp: “Pertinea as a platform and their Dutch assets represent a convenience retail investment case we are keen to finance. We are looking forward to support Pertinea in the continued expansion of their retail portfolio.”
Robert-Jan Peters, Executive Director CBRE Debt & Structured Finance Netherlands: “The convenience focus of the centres allowed us to raise financing from a stable and long term lender to the Dutch market. A well prepared and executed legal documentation process then allowed us to ensure that the financing fits with Pertinea’s well defined asset and fund management requirements.”
Pertinea was assisted in this transaction by CBRE’s Debt & Structured Finance team and was legally advised by Dentons. Berlin Hyp was legally assisted by Van Doorne. JLL has performed the valuation of the assets.
Pertinea is an independent real estate service and investment firm founded in 2010 with offices in Belgium and the Netherlands. Pertinea seeks real estate opportunities in niche markets within the Benelux. For the Netherlands this results in convenience shopping centers and for Belgium in clustered out-of-town retail properties. Furthermore, Pertinea actively partners with Belgian residential developers in order to provide the appropriate funding and additional expertise allowing them to optimally realize the next step in their growth.
Pertinea manages multiple private equity initiatives which are funded by Belgian, Dutch and Luxembourgian insurance companies, pension funds, investment companies, family offices, as well as private individuals. The platform comprises over EUR 200 million of assets under management divided over more than 20 clustered retail & leisure properties as well as residential development schemes.
About Berlin Hyp
Berlin Hyp specialises in large-volume real estate financing for professional investors and housing companies, for whom the Bank develops individual financing solutions. As an enterprise forming a Group together with the German savings banks, it also makes an extensive spectrum of products and services available to these institutions. Berlin Hyp plays a pioneering role in the development of sustainable refinancing products. Sustainability is a central component of the bank’s business strategy. Berlin Hyp promotes the financing of sustainable real estate and seeks to support the transformation of the real estate market in order to contribute to achieving the goal of climate neutrality. Berlin Hyp’s clear focus, more than 150 years of experience and the ability to actively shape digital transformation in the real estate sector characterise the bank as a leading German real estate and Pfandbrief bank.
About CBRE Debt & Structured Finance:
Consisting of in total 6 persons, the CBRE Debt and Structured Finance team assists and advices professional real estate investors in the entire financing process, from initial strategic analysis to closing and funding. The team is on a regular basis in close contact with over 200 lenders across Europe and has in-depth knowledge about the real estate finance market. In the last 3 years the team has successfully closed over 90 deals with a total debt raised of more than EUR 2.6 billion.