Advising ABN Amro on the financing of the Heimstaden acquisition of a portfolio of residential properties in The Netherlands

01 May 2019

International law firm Simmons & Simmons has advised ABN Amro as arranger and ABN Amro together with an institutional investor as underwriters on the financing of the acquisition by Heimstaden AB of a portfolio of residential properties in The Netherlands from Round Hill Capital.

With almost 10,000 residential properties (793,800 sqm), 12,100 sqm of commercial space, a purchase price of EUR 1.4bn and a financing amount of EUR 875m, the transaction is this year’s largest real estate acquisition and financing transaction in The Netherlands.

The Simmons & Simmons team was led by real estate finance partner Jan-Joost van Rijsbergen, who today celebrates his second anniversary in the expanding Amsterdam Financial Markets team.

Commenting on the acquisition and financing of the portfolio partner, Jan-Joost van Rijsbergen says: “The sheer size of the portfolio creates both commercial, legal and practical dynamics. In addition, acquisition and financing arrangements in such an amount require bespoke documentation and arrangements. Combining bank and non-bank lending for a specific asset class like portfolios of residential properties is an exciting challenge. Our experience and expertise in this area is shown by the transactions completed in recent years and is now further underlined by this financing to Heimstaden. The acquisition of this portfolio also marks a new phase in the Dutch real estate market. We are very proud that we have been able to assist ABN Amro and the institutional investor on this financing and to help Heimstaden with this enormous step in the Dutch market.”

Jan-Joost van Rijsbergen was assisted by associates Dirk-Jan Gerrits, Luke Benincasa, Jaap van der Steenhoven and Emrecan Karacaoglu.

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