Time Equities refinanced its Dutch portfolio of approximately 166,142 sqm with €88 million

The refinancing was made possible in partnership with JLL and the loan was arranged by MetLife Investment Management.

Time Equities assembled the portfolio by acquiring and merging smaller portfolios, each of which was acquired with little or no existing financing.

The portfolio, which consists of 34 offices, one industrial and one retail space spread over Amsterdam, Utrecht, Rotterdam, The Hague and Eindhoven, is 86% let (159 tenants), has a sublease of approx. 10% and a WAULTE to expiration of 5.3 years, and a WAULTB of 4.5 years. The 50% LTV interest only facility has been provided for an interest only term of 5 years and offers a day one debt yield of 11.77%.