LaSalle Investment Management has made its first Dutch acquisition for French public service additional pension scheme, ERAFP.
The investment manager has bought an office property in Amsterdam for the French pension scheme, L’Etablissement de Retraite Additionnelle de La Fonction Publique.
ERAFP has also made real estate investments in Finland, Spain, Sweden and the UK.
The deal is LaSalle’s sixth for ERAFP, having been awarded a 10-year mandate in 2015 to focus on core and core-plus properties.
LaSalle said the multi-let asset, in Sloterdijk, is in a location with good accessibility at affordable rental levels.
Beverley Shadbolt, fund manager at LaSalle, said the office will also further add geographic diversification to the fund and offer stable existing income and upside through leasing.
ERAFP, which first tendered for real estate managers in 2012 and increased its allocation to real estate in 2015, also uses CBRE Global Investors and AEW Europe as managers, as well as Amundi and La Française Real Estate as standby managers.