Amundi Real Estate has acquired a 19,000sqm fully-leased office tower the Netherlands for an undisclosed sum.

The €35bn real estate manager said it has bought One Twenty - Allianz Tower, 120 Coolsingel, located in the business district of Rotterdam, on behalf of its funds.

The asset, which is spread over 20 floors, is leased to the Allianz Group.

Amundi Real Estate said the tower is currently under renovation and is expected to be completed by June next year.

Jean-Marc Coly, CEO of Amundi Real Estate, said: “We are delighted with this new transaction in Rotterdam which strengthens our European presence and fits perfectly into our strategy to diversify through quality assets.

“The One Twenty - Allianz Tower is in a prime location, completely refurbished and leased to a renowned tenant, offering immediate and secure income over the long term.”