Cording Real Estate Group has expanded its Benelux portfolio with an office acquisition in the Netherlands.
The asset manager said it has acquired a 3,300sqm office building at Nieuwezijds Voorburgwal 162-170 in the centre of Amsterdam as an addition to its Benelux Commercial Real Estate Fund.
The five-storey property, which was originally constructed in 1888, was bought from a private investor for an undisclosed sum.
The building is occupied by Mindspace, a co-working space provider.
René de Heus, the head of investment Benelux at Cording Real Estate Group, said: “By investing in the best locations within the Benelux we continue to build a sustainable and future-proof portfolio.
“Despite the strong competition, this transaction demonstrates the capability of our local team to identify the right assets. Furthermore, this transaction again emphasises the strong transaction security Cording provides for vendors.”
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.