HCOB finances purchase and revitalization of office building in Amsterdam for HighBrook
Hamburg, February 19, 2021 - Hamburg Commercial Bank (HCOB) provides the financing to a fund managed by private equity firm HighBrook Investors for the purchase and revitalization of an Amsterdam office building. The financing amount is in the lower double-digit million euro range, the term is five years.
The office building, built in 1983, covers a total area of more than 3,000 square meters and is centrally located near the Rijksmuseum in the historic city center of Amsterdam. The property is located on a canal, has its own boat jetty and 17 car parking spaces.
HighBrook Investors is a private equity real estate investor focused on value-add investments in the United States and Western Europe. HighBrook manages a series of commingled, closed-end funds from offices in New York and London. The company is an active investor in the Dutch real estate market.
"The building at Weteringschans meets very good conditions in a market with a vacancy rate for office space of less than five percent," said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. "We are happy to assist HighBrook Investors with this project, further expanding the share of our real estate portfolio in neighboring European countries."
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