{"id":11823,"date":"2022-05-16T17:35:19","date_gmt":"2022-05-16T15:35:19","guid":{"rendered":"https:\/\/www.springrealestate.com\/?p=11823"},"modified":"2022-05-16T17:36:10","modified_gmt":"2022-05-16T15:36:10","slug":"starz-real-estate-provides-a-e68520500-loan-to-union-street-investments-secured-by-a-portfolio-of-dutch-office-buildings","status":"publish","type":"post","link":"https:\/\/www.springrealestate.com\/en\/starz-real-estate-provides-a-e68520500-loan-to-union-street-investments-secured-by-a-portfolio-of-dutch-office-buildings\/","title":{"rendered":"Starz Real Estate provides a \u20ac68,520,500 loan to Union Street Investments secured by a portfolio of Dutch office buildings"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text css=&#8221;.vc_custom_1652715240557{padding-right: 32px !important;}&#8221;]<a href=\"https:\/\/www.starzrealestate.com\/\" target=\"_blank\" rel=\"noopener\">Starz Real Estate<\/a> has provided a \u20ac68.5m senior facility to Union Street Investments. Union Street was founded by a US-based investment firm as a long-term investment platform in the Dutch real estate market and today comprises of an 8-office investment platform, totaling c. 66,000 sqm, located across key locations in the Netherlands. Starz facility comprises a \u20ac58.3m term loan and a \u20ac10.2m capex facility designed to fund further upgrade works at the properties.<\/p>\n<p>Union Street is a mix of stabilized and value add assets and offer significant value creation through refurbishment and lease ups. The properties are predominantly located in the G5 cities of Amsterdam, The Hague, Rotterdam and Eindhoven. The eight assets are occupied by a diverse base of 64 tenants.<\/p>\n<p>Since its inception in 2015, Union Street has been exclusively managed by Spring Real Estate, an Amsterdam based real estate advisory firm which was founded in 2011. <a href=\"https:\/\/www.springrealestate.com\/our-team\/sjors-van-iersel\/\">Sjors van Iersel<\/a>, Senior Advisor at Spring Real Estate commented: \u201cWe are very satisfied with the tailored loan that enables us to launch the proposed capex projects throughout the portfolio. Starz has proven flexible and adjusted the facility to support the renovation program planned in some of the properties\u201d.<\/p>\n<p>Maarten de Jong, Partner Debt &amp; Structured Finance EMEA at <a href=\"https:\/\/www.cushmanwakefield.com\/nl-nl\/netherlands\" target=\"_blank\" rel=\"noopener\">Cushman and Wakefield<\/a> commented: \u201cThe lending landscape for value-add office portfolio\u00b4s is very competitive and we noticed there was ample liquidity available in the market as lenders recognized the strength of Spring\u2019s business plan. Following a very competitive process, Starz positioned themselves as the most competitive lender &#8211; all parties are pleased with the outcome and the loan marks the start of a solid relationship.\u201d<\/p>\n<p>Limor Shilo, Head of Origination at Starz Real Estate, commented: \u201cWe are pleased to have supported Union Street Investments in this financing. Union Street is set to benefit from strong demand for renovated office space in Netherlands and the investment program envisaged by Spring will transform key properties into vibrant, high-quality offices in their respective locations. The assets will also benefit from Spring\u2019s strong track record at executing similar business plans in recent years.&#8221;<\/p>\n<p>Union Street Investments was commercially advised by Cushman &amp; Wakefield and Spring Real Estate and legally represented by Loyens &amp; Loeff. Starz was legally represented by Eversheds Sutherland.[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_single_image source=&#8221;featured_image&#8221; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text css=&#8221;.vc_custom_1652715240557{padding-right: 32px !important;}&#8221;]Starz Real Estate has provided a \u20ac68.5m senior facility to Union [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":11820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_improvement_type_select":"improve_an_existing","_thumb_yes_seoaic":false,"_frame_yes_seoaic":false,"seoaic_generate_description":"","seoaic_improve_instructions_prompt":"","seoaic_rollback_content_improvement":"","seoaic_idea_thumbnail_generator":"","thumbnail_generated":false,"thumbnail_generate_prompt":"","seoaic_article_description":"","seoaic_article_subtitles":[],"footnotes":""},"categories":[289],"tags":[293],"class_list":["post-11823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spring-real-estate-2","tag-springrealestate-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Starz Real Estate provides a \u20ac68,520,500 loan to Union Street Investments secured by a portfolio of Dutch office buildings | Spring Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.springrealestate.com\/en\/starz-real-estate-provides-a-e68520500-loan-to-union-street-investments-secured-by-a-portfolio-of-dutch-office-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starz Real Estate provides a \u20ac68,520,500 loan to Union Street Investments secured by a portfolio of Dutch office buildings | Spring Real Estate\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text css=&#8221;.vc_custom_1652715240557{padding-right: 32px !important;}&#8221;]Starz Real Estate has provided a \u20ac68.5m senior facility to Union [&hellip;]\" \/>\n<meta property=\"og:url\" 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