La Française Real Estate Partners International has bought an office building in Amsterdam for an undisclosed sum.
The French asset manager said it acquired the 5-storey office building on behalf of a La Française collective real estate investment vehicle.
The building, which was refurbished in 2013, offers 2,731msq of lettable space and is fully leased.
Jens Goettler, the managing director for Germany, La Française Real Estate Partners International, said: “This is our second acquisition in the Netherlands.”
The limited supply of modern office space in Amsterdam combined with the current high demand should contribute favourably to the valuation of the property and to rental levels, Goettler said.
“We continue to look for investment opportunities of similar quality and type.”
In December 2016, La Française made its first investment in the Netherlands on behalf of its collective investment vehicles. It acquired the Hollandia office building in Amsterdam for its Sociétés civiles de placement immobilier (SCPI) business.