La Française Real Estate Partners International has for the first time invested in the Netherlands on behalf of its collective investment vehicles.
The Paris-headquartered fund manager has acquired the Hollandia office building in Amsterdam for its Sociétés civiles de placement immobilier (SCPI) business.
The sustainable building is located in Oosterdokseiland, a major inner-city development project, with 9,950sqm of lettable space across 12 floors. It is let to a single tenant, TomTom International.
Jens Goettler, managing director for Germany at La Française Real Estate Partners International, said: “This is our first acquisition in the Netherlands on behalf of La Française’s collective real estate investment vehicles.
“Its central location which will benefit from the opening of a metro stop in 2018, and flexible floor plan are certain to attract and retain quality tenants.
“This acquisition fits perfectly with our strategy of investing in dynamic inner-city locations.”
The building was sold by Real IS, a German fund manager that announced on the same day that it had bought an office building in Paris.
Real IS purchased Faubourg St. Martin, a fully-let office property, from AEW Europe for its BGV VI real estate fund.
French fund manager sold the 5,560sqm building on behalf of its Europe Value Investors Fund, which pursues a strategy of improving assets to sell onto core buyers.