REF provides a €169 million loan for Woonhave
ING Real Estate Finance acted as sole mandated lead arranger to increase the Woonhave Loan Facility up to EUR 169 million. ING Real Estate Finance provided financing for Woonhave which has acquired a large residential portfolio from a.o. Dutch private investor Van der Vorm. The total portfolio owned by Woonhave consists of over 2,000 assets well diversified and located in areas with positive demographic developments and scarcity of affordable housing.
Arie Hubers, managing director, ING REF: “We are happy to be able to further support the growth strategy of Woonhave through this transaction. Woonhave is a good example of the successful combination of local expertise and long term commitment with international institutional investment capital in the Dutch real estate market. The additional capital this brings to the market can be instrumental in addressing the structural shortage in affordable housing product we face in The Netherlands. This third transaction with Woonhave underlines our ability to build mutually beneficial relationships with international real estate investors”.
Mark van den Berg, managing partner, Woonhave: “Woonhave is focused on the Dutch residential market, taking a long term investment view on the wider ‘Randstad’ area and investing in single family homes and apartments that meet tenant demand, now and in the future. The financing relationship with ING and with the local ING team is based on joint experience in the market and proper understanding of tenant demand and the market dynamics. With our in-house property management and asset management teams we strive to make the difference for our tenants, to the benefit of all stakeholders.”