• This refinancing underlines lender appetite for Grade A office space

Dubai, UAE:– JLL advised Neo Capital, a Dubai-based investment management firm, on the refinancing of Weena 200, Rotterdam, Netherlands.

The Asset consists of a freehold, multi-let commercial space totalling 17,433 sq.m., with 16,909 sq.m. dedicated to office space and the remaining 1,364 sq.m. allocated for retail across the ground and mezzanine floors. Constructed in 1993 and comprehensively refurbished in 2015 and 2016, the Asset comprises three interconnected 13-storey towers and benefits from its prime, strategic location within the CBD of Rotterdam and across from Rotterdam Train Station.

Weena 200 has maintained over 90% occupancy since 2019, generating a passing rent of €3.3 million per annum with a WAULT-E of 4.8 years and no breaks.

The refinancing was extended by Helaba, who provided a senior loan of EUR 28.0 million for a four-year term.

​The JLL debt placement team, representing the borrower, was led by Senior Director, Claudio Sgobba.

Babak Sultani, Chief Executive Officer, Neo Capital, said: “The Neo Capital team wants to extend its gratitude to Helaba and JLL for their invaluable support in the successful closure of the loan. Weena 200 continues to be a top-performing asset in the Rotterdam market. Its success can be attributed to its prime location, attractive floor plan for both existing and prospective tenants, scarcity of Grade A office buildings within the Rotterdam CBD market, and proactive asset management and leasing efforts. Owning three Dutch assets in three different locations showcases Neo Capital's confidence in the long-term potential of the Dutch real estate market.”

Georg Blaschke, Head of Real Estate Finance CEE & Benelux, Helaba, said: “We are very pleased to support Neo Capital with their investment in Rotterdam. The Netherlands is an important market for Helaba and we look forward to continue our strong relationship with Neo Capital.”

Claudio Sgobba, Senior Director, Structured Finance, EMEA, JLL, said: “Helaba have been a pleasure to work with, particularly given the challenging lending market within the transitional office sector. This transaction is an excellent example of Helaba’s ability to provide senior loans secured by high quality office assets.”


About Neo Capital (DIFC) Limited:

Neo Capital was founded in 2015 in Dubai, United Arab Emirates, with the aim of creating and leading unique investment opportunities in the global real estate market. Valued at approximately US$ 1 billion, Neo Capital’s strategic acquisitions spread across key markets in the Netherlands, Germany, United Kingdom and United States of America. ​For further information, visit www.neocapital.co and follow us on LinkedIn.

One of the leading banks in the German financial capital of Frankfurt, the Helaba Group employs approximately 6,500 people and has total assets of EUR 202 bn. Helaba is a full-service bank closely incorporated in the German Sparkasse organization. The Wholesale Business division offers a complete range of financial services from a single source for companies, banks and institutional investors. The Helaba real estate unit provides a comprehensive range covering the whole of the value chain from finance, design and development to the operation of top end properties. Helaba also offers a host of attractive participation opportunities for institutional investors. It concentrates its real estate lending business on Germany and selected international markets in Europe and the USA. It has built its business model in this area around stable, long-lasting customer relationships. Real estate business is not only one of the Bank’s core business areas, but commercial real estate finance is one of its strongest areas and is consistently regarded in national and international financial markets as one of the most successful thanks to its outstanding expertise, an intelligent risk profile and a compelling proposition.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.


Across the Middle East and Africa (MEA) JLL is a leading player in the real estate and hospitality services markets. The firm has worked in 35 countries across the region and employs over 1900 internationally qualified professionals across its offices in Dubai, Abu Dhabi, Riyadh, Jeddah, Al Khobar, Cairo, Casablanca, Cape Town, Johannesburg and Nairobi. For further information, visit jll-mena.com.

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