NL - PingProperties acquires two office buildings in Groningen

PingProperties has acquired two office buildings on Cascadeplein in Groningen. The CVO Group supported the investor in the pre-acquisition phase with (technical) due diligence services.

PingProperties acted for and on behalf of its Corporate Office fund IV CV. PingProperties has been owning four properties on the Cascadeplein location since 2011 and is now extending its ownership with two adjacent buildings. With the purchase of the adjacent buildings, the size of the fund has expanded by approx. 9.500 m² LFA, bringing the total property owned by the fund to approx. 30.000 m² LFA.
The Cascade office complex is situated in a unique location in the center of Groningen, immediately next to the central station.

Besides by the CVO Group, the investor was assisted by DLA Piper and Nadorp.

Based on an article by Vastgoedmarkt of June 2014.