LaSalle Investment Management and Universal-Investment have acquired two office properties in the Netherland for German pension fund Bayerische Versorgungskammer (BVK).
LaSalle said the 17,000sqm Ploum & Blaak House at Blaak 28 and 34 in Rotterdam was acquired from Real IS for an undisclosed sum.
The properties belonged to the BGV V special real estate fund, which has invested in office and retail real estate in Germany, the Netherlands, Luxembourg, France and Ireland on behalf of institutional investors.
The fully-let Ploum House is a six-storey building currently undergoing a renovation scheduled for completion in the fourth quarter of this year. Blaak House is a seven-storey property that has been recently fully redeveloped internally.
Christian Rust, fund manager at LaSalle Investment Management, said: “As a state-of-the-art asset located in a central area of a major and growing European city, Ploum & Blaak House represents a strong addition to the fund.
“We’re pleased to be able to offer our client exposure to a prime office location and the upside potential of an excellent location in one of the Netherlands’ largest office markets.”
Nadine Gelke, Head of Investment for the Netherlands at LaSalle, said: “It is a good example of our strategy to diversify our investment activities in the Netherlands while taking on leasing risk in DTU+E rich locations.
”We’ll be working to let the remaining space within the coming year through our proactive approach to asset management.”