Neo Capital acquired the Share Building, located in Hoofddorp, Netherlands with EUR 26.0 Mn acquisition financing advised by JLL
Financing underlines lender appetite for sustainable eco-friendly Grade A office
LONDON, 14 July 2021 – JLL has advised Neo Capital, a Dubai based investment management firm, on the EUR 26 million financing for the Share Building which was acquired for EUR 43 million. The acquisition was financed by a German lender who provided a senior loan of EUR 26 million representing approximately 60% LTV, which has been provided for a five-year term.
The building is a brand-new Grade-A office development at Park 20|20 in Hoofddorp, near Schiphol Airport and within a stone’s throw from Amsterdam. At present the building is 76% pre-let to L’Oreal, the world’s largest cosmetics and beauty company. The remaining space in the building is expected to be pre-let in the coming months. The Asset currently has a WAULTB and WAULTE of 10 years.
The asset comprises c. 8,121 SQM net internal area, across four levels. The property has a spacious atrium offering natural light and has been extensively designed with the wellbeing of its occupiers as the key priority. Additionally, the asset boasts a sustainable design and impressive environmental credentials including the coveted BREEAM Excellent as well as a WELL Silver certification.
The asset’s DNA is defined by sustainability. The design encompasses a combination of high-tech and sustainable materials. The building uses sustainable energy sources, including solar panels integrated in the atrium windows. Moreover, the share building features 100 SQM of green wall that purify the air and improve acoustics. The result is a modern, warm and inviting building.
Not only are ecological principles incorporated into the fabric and structure of the building itself, but the building’s design actively stimulates a sustainable and healthy lifestyle for all office users contributing to their individual well-being.
The JLL debt placement team representing the borrower was led by Senior Director Claudio Sgobba, Director Karan Mahajan, and Senior Analyst Hamish Gordon.
Hani Obaid, Partner, Neo Capital, said: “Neo Capital is very pleased with this acquisition in Hoofddorp that fits well within Neo’s wider portfolio. The asset is well positioned within a rapidly expanding community to benefit from growth synergies in the market which will produce a stable income stream with good upside potential for our investors”.
Claudio Sgobba, Senior Director, Debt and Structured Finance, EMEA, JLL, said: “It was a pleasure working alongside Hani Obaid and Faisal Al Omran, founding partners of Neo, to close an attractively priced facility that is suited for their business plan. It was a competitive lender selection process with leverage, pricing, and surety of execution, all playing a role in the ultimate decision”.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.