ING Real Estate Finance said on Thursday that it has financed the acquisition of a portfolio of over 30 Dutch retail assets by HS Group, a company linked to US private equity firm Och Ziff Capital Management.
As part of the deal, the Dutch lender extended and increased an existing financing with a new five-year term.
HS group bought the package from Altera Vastgoed, a Dutch real estate investment fund with assets under management of €1.8 bn, for a price believed to be around €26 mln. The portfolio consists of high-street retail assets located throughout the Netherlands.
This is the second acquisition by HS Group in the Netherlands after the purchase of a portfolio of over 80 assets from Elizen Vastgoed in 2015.
HS Group was established in 2015 to invest in high-street retail assets in the Netherlands. The total portfolio of HS Group now encompasses over 110 assets and over 230 lease contracts, and is managed by the independent asset and investment manager Rubens Capital Partners, which has €1.2 bn of assets under management.
DLA Piper acted for HS in this transaction, while the lenders were supported by NautaDutilh.
