Osborne Clarke in the Netherlands has advised Angelo Gordon, Cairn Real Estate and NEOO on the re-financing of the acquisition and development of the Beursgallery building in Rotterdam, arranged by ABN AMRO and Rabobank.
As part of the financing by Dutch banks ABN AMRO and Rabobank, an investment and development facility is made available to refinance the costs of the acquisition and to re-develop the Beursgallery. The Beursgallery building consists of a floor area of approximately 30,000 m² and is located in the heart of the centre of Rotterdam, formerly known as the Hudson's Bay building. The recent financing enables the parties to redevelop the already remarkable building into an iconic multifunctional building.
The Osborne Clarke banking and finance team was led by Head of Banking and Finance Axel van der Staak and consisted of Senior Associate Peter van der Horst and Junior Associate Marlinde Klein Ganseij.
CBRE's Robert-Jan Peters and Yannick van der Weerden provided debt advisory advice to the borrower.