Berlin Hyp finances €73m Amsterdam office conversion

German lender Berlin Hyp has provided a €73.4 mln loan to the joint venture between the Zadelhoff and Wonam Groups for a development in Amsterdam.

The loan will finance the conversion of the former ING headquarters in Amsterdam into a mixed-use property with a predominantly residential component.

In addition, office space and retail areas are planned. The total rental area will be around 9,000 m2.

After the end of the development phase, Berlin Hyp will also provide the long-term loan for the property.

Zandelhoff and Wonam were advised by Deloitte Debt and Capital Advisory. DLA Piper advised Berlin Hyp on the transaction process.


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