NIBC Provides Bilateral Sustainability-Linked Loan to PingProperties for Sustainability Upgrade of Shopping Center ‘Passage Schiedam’

NIBC has provided a Sustainability-Linked Loan (SLL) to PingProperties to support a sustainability upgrade of Passage Schiedam, the largest covered shopping center in Schiedam.

This financing will support the ambitious goal of upgrading the building’s energy label to A within two years, reinforcing PingProperties' commitment to sustainability. The loan’s interest margin is directly linked to achieving this target, providing a strong financial incentive to drive energy efficiency improvements and environmental impact reduction.

NIBC has been financing Passage Schiedam for PingProperties since 2021, beginning with acquisition financing. Over the years, the partnership has included capex loans and short-term extensions to facilitate the execution of PingProperties’ business plan. With the extension and increase of the current facility, NIBC is delighted to continue its collaboration with PingProperties, driving further sustainability enhancements and operational excellence for Passage Schiedam.

Hein van der Post, Executive Director Commercial Real Estate at NIBC: "We are grateful for the continued trust PingProperties has placed in us and for the fruitful collaboration we’ve built over the years. This transaction reflects our shared vision of creating a more sustainable future while delivering tangible results. By supporting initiatives like this, we enable our clients to make a lasting positive impact on their assets, tenants, and the communities they serve."

Sander Rovers, Investment Manager at PingProperties: "We highly value the partnership with NIBC. Their deep understanding of our goals and their ability to provide tailored financing solutions have been instrumental in the successful transformation of our shopping center Passage Schiedam. This Sustainability-Linked Loan further aligns with our ESG ambitions, and we look forward to achieving energy label A for this important asset."

About PingProperties

PingProperties is an investment management organization committed to creating sustainable value to existing commercial real estate and neighborhoods. By investing in underperforming or convertible assets, PingProperties transforms properties into future-proof investments, delivering attractive returns for investors while promoting sustainability. PingProperties currently manages invested assets of around 450 million euros and is based at Schiphol. For more information about PingProperties, visit https://pingproperties.com.