July 11, 2018

pbb provides EUR 28 million for the acquisition of Boompjes 258 office building in Rotterdam

pbb provides EUR 28 million for the acquisition of Boompjes 258 office building in Rotterdam

pbb Deutsche Pfandbriefbank provided a medium-term acquisition facility totaling €28.20 milion to entities managed by HighBrook Investors. The loan was provided to partially finance the acquisition of Boompjes 258 in Rotterdam.

Boompjes 258 is a landmark building in the city of Rotterdam with around 16,000 m² lettable space. It is the Dutch headquarter of Ernst & Young, who recently extended their lease on a long-term basis. In the past year the public areas were renovated and catering space was added as a first step to upgrade the building. HighBrook will further refurbish and let up the remainder of the building to create a multi-let product with a diverse income stream.

Norbert Müller, Managing Director of RE Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “The Benelux and especially The Netherlands are promising markets for pbb. We are happy to further expand our exposure in Rotterdam and to deepen our relationship with HighBrook.”

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