The Manager of the Woon-Winkel Fund, Beethoven Beheer B.V., has refinanced the entire property portfolio for the Woon-Winkel Fund. A financing agreement of € 45 million has been agreed upon with Handelsbanken for the Woon-Winkel Fund. The financing has a term of 5 years at a fixed interest rate. With this financing, the Woon-Winkel Fund can repay its current financing and the Manager sees opportunities to further improve and expand the Fund’s portfolio.
The current portfolio of Woon-Winkel Fonds is made up of 57% commercial real estate. An important part of this concerns Peripheral Retail Trading Establishments (PRTE) and supermarkets throughout the Netherlands. The portion of the portfolio consisting of residential properties amounts to 42%, which are mainly apartments. 1% consists of other, such as parking spaces.
The portfolio generates more than € 6.6 million in gross rental income and has a vacancy rate of approximately 2.4% at the end of 2021.
Beethoven Management B.V. received support from Beaufort – Transformations and transactions in this succcesful refinancing. Jan Eduard Thompson, partner at Beaufort, looks back on a succesful collaboration: “Beethoven Beheer B.V. is an organisation with very experienced and skilled real estate entrepeneurs. In combination with our professionalism in the field of real estate financing, we formed a rock-solid team in realising this refinancing. In addition, the personal contact and cooperation with both Director Rob Knobben and Financial Manager Robert Lodder was excellent. We look forward to further developing our relationship.”
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