Starz Real Estate Funds Hoek 3 for Signal Capital Partners

Starz Real Estate Funds Hoek 3 for Signal Capital Partners

PR Newswire

LONDON, Dec. 12, 2018

LONDON, Dec. 12, 2018 /PRNewswire/ -- Starz Real Estate has closed a €22,000,000 senior facility on Hoek 3 Office building in Amersfoort, the Netherlands. Hoek 3 is a well located 'A' Grade office complex in the CBD of Amersfoort, within walking distance from the train station and the city centre.

Signal Capital Partners is a special situations investor focussed on the European real estate and credit markets. Signal is an experienced investor in the Dutch market. Signal completed the purchase of Hoek in Q3 2017 through an accelerated acquisition process from a custodial bank representing a large pan-European core investment fund in liquidation. At the time of acquisition, the property was in a distressed situation. Since that time Signal has invested significant capital into the property with a major refurbishment of all common areas, the façade and an upgrade of the technical installations. The building now offers the most attractive available office space in Amersfoort, a claim supported by the 5,000 square metres of new lettings completed since acquisition. 

Limor Shilo, Head of Loan Origination at Starz said: "Amersfoort is an important railway junction from Amsterdam with solid supply / demand dynamics. The office market has been a strong beneficiary of the rise in office jobs, led by the business services, financial, and TMT sectors. Vacancy is declining across all markets, with preference seen for new and modular products. In Amersfoort, a good supply/ demand balance exists thanks to recent office to residential conversions, and the market vacancy stands at its lowest level in over 10 years. Signal undoubtedly owns the best property in the local market and their business plan has materialised and facilitated a smooth financing."

Gad Caspy, Partner at Signal commented: "It has been great working with Starz, who understand the local Dutch market and are able to provide sophisticated financing structures."

About Starz

Launched in July this year, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service.

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