Cording adds Dutch retail and office asset to Benelux fund
Cording Real Estate Group has bought a mixed-use retail and office asset in the Netherlands for its Benelux Commercial Real Estate Fund.
The asset manager acquired Ganzenmarkt 2-6, in Utrecht, from a private investor for an undisclosed.
The mixed-use retail and office investment has a lettable floor area of 3,000sqm. The property, which was refurbished and extended in 2014, consists of three linked buildings of different heights.
The property is fully let to a diversified pool of tenants.
René de Heus, the head of investment Benelux for Cording Real Estate Group, said: “This third purchase underlines our interest in the office market in Utrecht. The high level of demand within the occupier market, combined with the favourable economic fundamentals, is why Utrecht is considered to be strategically an important city pertaining office investments for the Benelux Commercial Real Estate Fund.
”During a rather short period of time, we have acquired ten properties. We aim to double this amount in 2019”.
Launched in December 2016, the Benelux Commercial Real Estate Fund invests in office and retail property in economically strong cities within the Netherlands, Belgium and Luxembourg.
The fund has a gross target volume of €400m, including €250m of equity.