CBRE Global Investors has bought a 6,000sqm office building in Amsterdam from a joint venture between Angelo Gordon and APF International.
CBRE GI said it has paid an undisclosed amount to acquire the building located on the Herengracht 206-216 in the historic centre of Amsterdam.
The Herenstaete, a national monument and dating back to 1616, is currently undergoing a renovation and is expected to complete in the first quarter of 2022 and leasing activities will begin shortly.
Owen Clayton, transactions manager Netherlands, CBRE GI, said: “This building meets the fund’s strategy of acquiring office buildings in ‘winning cities” at proven locations.
“It brings to the market a very high-quality office space in a monumental building at one of the best locations in Amsterdam.”
Wiggert Karreman, APF International, said: “At the time of acquisition, the building was 10% leased and very outdated. Once delivered this building will be a high-quality national monument with full climate control.
”This property and location have proven their value since 1616 and will continue to do so.”