News

  • DNB MOVES TO TOOROP BUILDING OF BREEVAST

    DNB MOVES TO TOOROP BUILDING OF BREEVAST
     
    AMSTERDAM, 3rd May 2018 – the Dutch Central Bank (DNB) will be moving its headquarters to the Toorop building located at Omval in Amsterdam for at least four years in 2020.
    DNB’s current headquarters, located on Frederiksplein and Westeinde, will be thoroughly renovated during this time. DNB will take up approximately 25.000 square meters of the property owned by Breevast, located near Omval and Amstel river, which is leased to Delta Lloyd on a long term lease. In 2017, Delta Lloyd was taken over by Nationale Nederlanden, which resulted in available office space in the building which totals approximately 46.500 square meter. 
    In addition to DNB, Nationale Nederlanden will keep its offices in the property, which will be supplied with a strict separation between the two users.
    Breevast has owned the Toorop property since 2007.

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  • HIGHBROOK AND BREEVAST CLOSE MESDAG DELTA PORTFOLIO TRANSACTION

    HIGHBROOK AND BREEVAST CLOSE MESDAG DELTA PORTFOLIO TRANSACTION

    LONDON/AMSTERDAM, 25 April 2018 – Real estate private equity firm HighBrook Investors announced today that it has completed the acquisition of the Mesdag Delta portfolio. HighBrook secured the transaction on an off-market basis through partnering with the existing owner Breevast to structure a portfolio recapitalization.  The deal was structured and closed within approximately 30 days. 
    As a result of the transaction, Breevast has now repaid the existing €615 million loan in full. The planned foreclosure sale on 15 May 2018 will not take place and Breevast has withdrawn its appeal that was placed on the agenda for 26 April 2018.

    The portfolio consists of 56 assets spread throughout the Netherlands totalling 456,000 square meters.  Included are a number of monumental trophy buildings in the city centre of Amsterdam as well as light-industrial properties and large grocery anchored retail centres. Over 50% of the portfolio is located in Amsterdam and nearly 70% is located within the greater Randstad area. 
    Breevast retains full responsibility for the property, asset & development management of the portfolio. HighBrook Investors and Breevast have drawn up a proactive value-add asset management strategy and business plan for the portfolio.
    This transaction marks HighBrook’s 12th investment on the Dutch market within the last 18 months.  The firm has now acquired nearly 100 properties totalling 620,000 square meters throughout the Netherlands and is actively working on multiple pending transactions, including but not limited to the acquisition of the iconic Groothandelsgebouwen in Rotterdam.
    Loyens & Loeff and Bryan Cave Leighton Paisner acted as advisors for HighBrook Investors in this transaction. Breevast was advised by Dentons Boekel and CMS. BNP Paribas Real Estate was deal advisor to both HighBrook Investors and Breevast.
     
    About HighBrook Investors
    HighBrook Investors is a real estate private equity firm which is focused on value-oriented investments throughout the United States and Western Europe. The firm operates out of its offices in New York, London and Atlanta.
    About Breevast
    Breevast, founded in 1963, focuses on the development, realisation, investment and management of commercial and residential real estate in Europe and North America. In addition to the Dutch headquarters in Amsterdam, Breevast has offices in Antwerp, Brussels, Luxembourg, and Newport Beach (United States).

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  • HIGHBROOK INVESTORS AND BREEVAST JOINTLY INVEST IN MESDAG DELTA PORTFOLIO

    HIGHBROOK INVESTORS AND BREEVAST JOINTLY INVEST IN MESDAG DELTA PORTFOLIO

    LONDON/AMSTERDAM, 15 April 2018 – An affiliate of HighBrook Investors, a real estate private equity firm, has entered into a binding and unconditional agreement with an affiliate of real estate investor Breevast to acquire and recapitalise the entire Mesdag Delta Portfolio.
    Parties concerned make the following statement regarding the joint investment of HighBrook and Breevast of which an excerpt has been recorded on the public land registry.

    -The pending transaction is expected to close in the immediate term and will result in a full payoff of the existing loan.
    -The foreclosure auction planned for May 15, is expected not to occur.
    -Breevast will retain the full property management, asset management and development management responsibilities for the portfolio going forward.
    -Parties have collectively formed a value-add strategy and business plan for the portfolio.

    Parties are not available for comment; no further details will be announced at this stage nor will an investment volume be disclosed.

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