90 North Real Estate Partners has teamed up with Dubai-based Audacia Capital to buy two newly-built office assets in the Netherlands worth €100m.
The real estate investment adviser and Audacia, together with investors, have bought the headquarters of ASICS EMEA and Danone.
The properties were developed by RED Company and were contracted by 90 North and Audacia pre-construction.
Emad Mansour, founder and CEO of Audacia, said: “These development financings and acquisitions heralds a fresh foray for Audacia Capital into international real estate investment market and provides our investment partners with an exciting opportunity to be part of a ground-breaking development project incorporating two brand new international headquarters’ buildings.
“We will continue to develop in this sector, always striving to select and ensure solid, quality returns working alongside trusted partners.”
Lisa Amin, head of continental Europe at 90 North, said: “Our consistent focus, at a time of major disruption impacting on real estate, is to acquire properties that meet rapidly changing occupier requirements and anticipate likely future changes.”
90 North has now completed its 38th acquisition with many of the properties having similar characteristics – brand new or modern constructions, long leased to strong, global tenants with the highest possible environmental accreditation, Amin said.
“We have now invested approximately $2bn (€1.8bn) globally for investors and approximately €225m in the Netherlands.”
The 4-storey ASICS EMEA building provides 11,619sqm and the 5-storey Danone global headquarters provides 8,356sqm.
Both tenants have committed to their respective headquarters by long-term leases.