Amundi Real Estate has bought a 60,000sqm office complex still under development in Amsterdam.

The Atrium, which is due for completion later this year, was sold by Icon Real Estate for an undisclosed amount.

According to local media, the building changed hands for close to €500m.

Last year, Amundi bought another large Dutch office building for €400m. De Rotterdam was bought for a Korean consortium for what was at the time the largest single-asset deal in the Netherlands.

Icon Real Estate, part of private equity firm Victory Advisors, has been redeveloping and enlarging the Atrium, which it bought in 2012 when it comprised 34,000sqm of space.

Victory Advisors, founded by former Blackstone managing director Erik Moresco, said the building faced a number of significant challenges at the time, with global investors losing confidence in the Dutch real estate market.

Moresco said: “In the face of the overwhelming obstacles, it has above all been our conviction that has helped create this fantastic building.

“We are proud to leave Amundi Real Estate owning a one-of-a-kind asset, in a country of ever increasing economic importance.”

Icon Real Estate has signed more than 33,000sqm of new leases over the past 18 months. Tenants include law firms Hogan Lovells and CMS.

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