JLL provides acquisition financing to Neo Capital on acquisition of Share Building ...United Arab Emirates

JLL has announced that it advised Dubai-based investment management firm Neo Capital on $31m financing for the Share Building. The building was acquired for $51m. JLL said the acquisition was financed by a German lender who provided a senior loan of $26m, representing approximately 60% LTV, which has been provided for a five-year term. According to a statement, the building is a brand-new Grade-A office development at Park 20|20 in Hoofddorp, near Schiphol Airport. At present the building is 76% pre-let to L’Oreal, while the remaining space in the building is expected to be pre-let in the coming months. The asset currently has a WAULTB and WAULTE of 10 years, JLL noted. JLL stated that the a

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