UAE – Mubasher: JLL advised Neo Capital, a Dubai-based investment management firm, is refinancing Weena 200 in the Netherlands, according to a press release.

The asset consists of freehold, multi-let commercial space totalling 17,433 square metres, with 16,909 m2 dedicated to office space and the remaining 1,364 m2 allocated for retail across the ground and mezzanine floors.

Weena 200 has maintained more than 90% occupancy since 2019, generating a passing rent of €3.30 million annually with a WAULT-E of 4.8 years and no breaks.

The refinancing was extended by Helaba, who provided a senior loan of EUR 28 million for a four-year term.

Babak Sultani, CEO of Neo Capital, said: “The Neo Capital team wants to extend its gratitude to Helaba and JLL for their invaluable support in the successful closure of the loan.”

“Weena 200 continues to be a top-performing asset in the Rotterdam market. Its success can be attributed to its prime location, attractive floor plan for both existing and prospective tenants, scarcity of Grade A office buildings within the Rotterdam CBD market, and proactive asset management and leasing efforts,” Sultani added.

The CEO noted: “Owning three Dutch assets in three different locations showcases Neo Capital's confidence in the long-term potential of the Dutch real estate market.”

Georg Blaschke, Head of Real Estate Finance CEE & Benelux, Helaba, said: “The Netherlands is an important market for Helaba and we look forward to continue our strong relationship with Neo Capital.”