Equity Estate appoints Rob de Groot as Director Management Services

6-3, 2017

Equity Estate, specialist in Asset Management and Management Services in real estate, appointed Rob de Groot(49) as Director Management Services. De Groot has build a strong and positive track record in management services at ABN AMRO Trust Company and most recently at TMF Netherlands, where he worked as Team Leader Accounting. Within Equity Estate De Groot is responsible for all management services activities and will take directorship for real estate investors that choose domiciliation in the Netherlands for their property companies. He will report his activities to the board of Equity Estate, formed by Enrico van Erkelens (CEO) and Nard Schuddebeurs (COO).

Enrico van Erkelens, CEO Equity Estate, says about the appointment of De Groot
“Investments in direct real estate in the Netherlands are tremendously popular. For foreign investors and private equity firms a well thought out portfolio and efficient and careful management of the properties are important for optimal efficiency. That requires specific knowledge of the local real estate market and knowledge of financial constructions and tax law to make sure investments correspond with the needs and aspirations of investors. We are fully organised around this service: we have been in real estate for 20 years, have a solid structure for controlling and reporting, are in possession of the Dutch Supervision of Trust Offices Act license (Wtt) and are supervised by the Dutch Central Bank. Rob’s strong track record in the field of accounting, company management and fiduciary management, in combination with our thorough knowledge of the real estate market offers us the opportunity to expand our management services activities to clients of which we are not the asset management partner.”

Background Rob de Groot
De Groot has an accounting background and did various studies in the field of international tax law and a Master Trust Officer course. From 1987 to 2005, he worked in various positions at ABN AMRO, including 10 years as Senior Client Relationship Manager at ABN AMRO Trust Company (Netherlands) BV. Over the past 10 years De Groot worked for TMF Netherlands BV where he was responsible for the Accounting Team (about 300 companies), setting up the VAT compliance department and the Banking Team. In addition, he was personally active as statutory director at Dutch entities of international organisations in the banking industry, telecommunications and real estate.

Equity Estate and Kyocera prolong lease in Zaventem (Belgium)

2-3, 2017

Equity Estate has successfully extended the lease agreement with tenant Kyocera Document Solutions Belgium NV in Zaventem (Belgium). It contains approx. 2,100 sqm of office, showroom and archive space and the lease is now running until 2023. The building is located on the Sint Martinusweg in Zaventem and forms part of the AB CPFM Real Estate Holding Group portfolio, a joint venture created in 2006 with Arab Bank. Kyocera Document Solutions Belgium NV has been a tenant in the building since 2007. From this location in Zaventem Kyocera manages its sales, marketing and services in Belgium and Luxemburg.

Equity Estate advises HighBrook on the acquisition of 10 Dutch office properties from Hanzevast

19-12, 2016

In an off-market transaction, Equity Estate advised HighBrook Investors on the acquisition of an office portfolio in the Netherlands from various entities managed and controlled by Hanzevast Capital. The portfolio totals approximately 51,250 sqm of leasable area and consists of ten separate properties located throughout the Netherlands.

This marks HighBrook Investors’ second transaction in the Netherlands after its recent acquisition of “De West” Transformatorweg 74-118 in Amsterdam and Laan van Vredenoord 8-24 in Rijswijk. HighBrook closed both transactions on an all-cash basis.

HighBrook Investors is a US-based real estate private equity firm with approximately € 1.0 billion in AUM. The firm has offices in New York, London, Newport Beach and Atlanta. The company is actively seeking additional opportunities to acquire well located office assets primarily in the Greater Amsterdam area. (www.highbrookinvestors.com).

HighBrook was advised on the transaction by Equity Estate, Jones Day and E&Y. The vendor Hanzevast was advised by Wallich & Matthes and TRIP.

Equity Estate and Otto Harrassowitz prolong lease of 7,500 m² in Wiesbaden (Germany)

19-12, 2016

Equity Estate has successfully extended the lease agreement with tenant Otto Harrassowitz GmbH & Co. KG in Wiesbaden, Germany for 7,500 m² of office and archive space. The lease is now running until 2022, Otto Harrassowitz has been on this location since 2003 and shows commitment to the area and to Wiesbaden, where it is located since 1953.

After the earlier lease transactions with Dräger and Bildungswerk der Hessischen Wirtschaft, the occupancy level in the office complex at the Kreuzberger Ring in Wiesbaden now amounts to over 90%. Only 900 sqm of office space is still available for leasing. This vacancy is the only vacancy in the AB Alternative Fund SICAV SIF, which amounts to only 1.6% of the total (theoretical) rent passing.

The Venture  ‘AB Alternative Fund SICAV-SIF’ was launched in Q2 2016 and because of investor inflow we are searching for strong additional investments with a volume between € 10 and € 25 million in Germany and Benelux.

Equity Estate advises Highbrook Investors on the acquisition of “De West” in Amsterdam and Laan van Vredenoord in Rijswijk from Internos

16-12, 2016

Internos Global Investors has sold two office buildings to HighBrook Investors on behalf of Internos Spezialfondsgesellschaft GmbH. 

The office buildings, “De West” Transformatorweg 74-118 in Amsterdam and Laan van Vredenoord 8-24 in Rijswijk, include a total leasable area of approx. 16,300 sqm. ‘De West’ in the Sloterdijk/Teleport submarket of Amsterdam is partly leased to KPN, approx. 65% of the building is vacant. The building in Rijswijk is fully leased to Boele & van Eesteren en Euro Pool System on long term leases. 

This marks one of HighBrook Investors’ first transactions in the Netherlands. HighBrook closed the transaction on an all-cash basis.  HighBrook Investors is a US-based real estate private equity firm with approximately €1.0 billion in AUM.  The firm has offices in New York, London, Newport Beach and Atlanta. The company is actively seeking additional opportunities to acquire well located office assets primarily in the Greater Amsterdam area. (www.highbrookinvestors.com).

INTERNOS was advised by Cushman & Wakefield, Houthoff Buruma and Atlas Fiscalisten. Highbrook Investors was advised by Jones Day, EY and Equity Estate. The asset management will be performed by Equity Estate.

Equity Estate acquires industrial building in Rijnsburg

8-12, 2016

Equity Estate expanded the Propco portfolio by acquiring an industrial building located at the Bankijkerweg 8 in Rijnsburg. The building consists of approximately 8,600 m² of warehouse space and 600 m² of office space on more than 2 hectares of land.

Van der Gugten Verpakkingen leases the building for a period of 10 years, and is a wholesaler in flower packaging materials. Furthermore, they are part of the Pacombi Group BV. Van der Gugten has a market share of approximately 40% and operates in the niche market of transport packaging in the flower industry. Its central location in the Dutch ‘Bollenstreek’ (flower bulb region) and the proximity of the flower auctions in Rijnsburg, Aalsmeer and the Westland, makes that the building is strategically located for its purpose.

After the acquisition of an industrial building in Dordrecht in June 2016, this is the second acquisition of Propco in a half year period. The intention is to further expand the portfolio to a size of around EUR 50 million, with long-term leases on strong locations.

Van Benthem & Keulen and Ten Holter Realty Partners (THRP) acted as the legal and commercial advisor on behalf of Equity Estate, whilst Marktlink fusies & overnames acted as the advisor of the seller during the entire process.

Deutsche Bank refinances two logistic assets

15-8, 2016

Equity Estate has successfully secured refinancing for two logistic assets through a loan provided by Deutsche Bank.

It concerns two single tenant logistic properties located at Schiphol-Rijk and Amsterdam Westpoort (Koolhovenlaan 35-45 and Lipariweg 6). The two properties are held separately in 2 Dutch SPV’s; AB CPFM Real Estate I B.V. and AB CPFM Real Estate IX B.V., owned through a joined venture with Arab Bank.

Both objects are located on good logistic and industrial locations in the Randstad area and are purpose built. The property at Schiphol-Rijk is fully let to Ricoh and measures approximately 10,200 sq m of commercial space, 6,200 sq m of office space and offers 120 parking spaces. Stora Enso has signed a long-term lease for the property in Amsterdam-Westpoort which contains approximately 24,000 sq m of commercial space, 1,400 sq m of office space and has parking spaces on the adjacent site at the Lipariweg in Amsterdam.

Nard Schuddebeurs, COO Equity Estate:
We were positively surprised about the interest in the market for refinancing our assets. With Deutsche Bank we have a good financing partner for the long-term growth.

Maarten de Jong, Senior Consultant CBRE Debt & Structured Finance:
The process of getting this refinancing in place showcased that lenders have shown a great deal of interest in financing logistic real estate. Deutsche Bank ended up in front providing financing that was the optimal combination of attractive terms and closing ability.

Equity Estate worked together with CBRE Debt & Structured Finance and Greenberg Traurig.

Equity Estate acquires industrial building of VAF Instruments

6-6, 2016

VAF Instruments has sold their industrial building with office space to a new venture launched by Equity Estate. The property is located on the Vierlinghstraat in Dordrecht and comprises approximately 4,170 m² of industrial space, 1,785 m² office space and 69 parking spaces. VAF Instruments is the leading specialist for development, manufacturing and world-wide sales of various control systems for the marine industry. The acquisition price amounted approximately EUR 4.3 million. This is the first acquisition of the new venture, that wants to expand its portfolio to a size of approximately EUR 50 million, with various types of long-term leased properties on strong locations.

Equity Estate acted as investment manager for the purchaser, performed the complete due diligence and directed the negotiations on LOI and SPA. The due diligence partners were Van Benthem & Keulen, Vedder Vastgoedmanagement and HARTvoorOG. Seller VAF Instruments was advised by CBRE and Nauta Dutilh.

Equity Estate divests an office building in Gent, Belgium

12-4, 2016

In Q3 2015 Equity Estate successfully divested an office building of approx. 3,800 sqm in the city centre of Gent to the Catholic University of Leuven. After the former tenant City of Gent vacated the office building in February 2015, Equity Estate reviewed the possibilities to lease out or divest the office building from a strategic perspective. When the Catholic University of Leuven turned out to be interested a divestment of the property made sense for the investors, reducing the fund’s exposure in the Belgium office market. In order to complete the sale of the office building, Equity Estate divided the complex into three apartment rights and sold one of them. The remaining apartment rights are leased out to United Brands retail store and the Proximus telecom and data centre. On this transaction, Baker McKenzie acted as a legal advisor on behalf of Equity Estate.

Equity Estate succesfully divests six buildings in Belgium

11-4, 2016

As part of the incorporation of the maturing joint venture AB CPFM Europroperty Fund Group, Equity Estate divested five office buildings and one industrial building to four different local investors. With these four transactions the restructuring of the AB CPFM Europroperty Fund Group was succesfully concluded.

In early 2015 Equity Estate divested an office building, of approx. 2,450 sqm, located on the Rue de la Science in Brussels. The building was sold to a local private investor, in a company transaction.

In Q3 2015 Equity Estate divested an industrial building, of approx. 5,200 sqm, in Hoge Wei in Zaventem, to Custodia Real Estate, in an asset transaction.

Also in Q3 2015 Equity Estate divested two office buildings, of approx. 5,500 sqm, in Rue Belliard in Brussels to Liegeois Group, in a company transaction.

Finally in Q1 2016 Equity Estate sold two office buildings, totalling approx. 6,250 sqm, in the Rue Royale in Brussels and Dreve Richelle in Waterloo were divested to Codabel, also in a company transaction.

On the four different transactions Equity Estate worked together with Baker McKenzie, JLL and Cushman Wakefield.