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September 2023
DHG
Sole Financial Adviser
€625 million
Green Loan

DHG

Sole Financial Adviser

Van Lanschot Kempen acted as Sole Financial Adviser to DHG (David Hart Group) in structuring and arranging €625 million Green debt facilities. This transaction is one of the largest Green Loans in European real estate in 2023 and was issued under the Netherlands’ Paris Proof criteria.

Transaction highlights

  • DHG made a strategic decision to build, own and manage a robust portfolio of cutting-edge SMARTLOG assets, rather than selling development assets at completion. This futureproof facility enables DHG to finance both its completed and planned projects.
  • Van Lanschot Kempen has assisted DHG in exploring multiple options to secure financing on the best possible terms, resulting in successfully raising €625 million in debt facilities.
  • The initial portfolio consists of 13 state-of-the-art distribution centres totalling more than 500,000 sqm. Mostly located in the Rotterdam port area, the assets give direct access to important water, rail, and highways.
  • Owing to the innovative and sustainable design, the assets satisfy the ambitious Paris Proof criteria, enabling a Green Loan structure .
  • Despite tightening interest rates lender appetite for this transaction was high, as evidenced by the marketing phase in which €3.1 billion demand was generated, making this deal 5 times oversubscribed.
  • Guus de Haan, Head of Debt Advisory at Van Lanschot Kempen: “Earlier this year, we explored multiple options with DHG to attract sustainable financing. We are proud of this result, which gives DHG the financial capacity to further develop its pipeline of sustainable logistics real estate projects of up to 2 million sqm.”

Company description

  • DHG is the Netherlands’ largest logistical real estate developer at its own risk founded and owned by David Hart and known for its high-quality and innovative SMARTLOG properties.
  • Since 2015, DHG developed over 1.3 million sqm of distribution centres according to the SMARTLOG concept. DHG is currently developing 500,000 sqm of logistics space in strategic locations concentrated in the Rotterdam port area.
  • Besides the SMARTLOG properties, DHG owns an investment portfolio with light industrial assets, terminals and office buildings.
  • DHG also participates in logistics-related companies. Through funding and knowledge, it gives companies the opportunity to grow as they require.
  • This year DHG started to operate its own solar park TwoZero, in order to facilitate its tenants even better.

Van Lanschot Kempen credentials

  • Van Lanschot Kempen has advised on more than €105 billion in real estate transactions across 15 different countries in Europe in the last 10 years. Since 2020 to date, Van Lanschot Kempen advised on more than 110 transactions across different countries, representing a total deal value of over €30 billion in a challenging and unprecedented environment.
  • This transaction marks Van Lanschot Kempen’s eight Debt Advisory transaction in the last twelve months with a combined deal value of €1.9 billion.

Guus de Haan Van Lanschot Kempen

Guus de Haan

Managing Director
Debt Advisory

g.dehaan@vanlanschotkempen.com

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