BlackRock Real Assets has acquired an office property in the city centre of Amsterdam.
It is the fourth acquisition for the BlackRock Eurozone Core Property Fund, which was launched in 2018.
The property, acquired from Bridges Real Estate, is located between the edge of Amsterdam’s canal belt, and the Pijp district.
The fully pre-let office building is 5,700sqm in size across five floors and features 1000sqm open-plan floorplates. It contains multiple sustainable features including rooftop solar panels.
“We are delighted to have successfully secured a rare building in the heart of Amsterdam in an off-market transaction,” said Ian Williamson, portfolio manager of the fund.
“The recent refurbishment was performed to a very high standard, and we believe that large, grade-A floorplates in the canal area will be an attractive proposition to office tenants and investors in the long term.
“This investment is a fantastic addition to our growing portfolio, and provides the fund with exposure to the expanding Dutch economy and, particularly, the Amsterdam office market.”