Monarch Alternative Capital and CK Capital Partners have teamed up to buy the Lotus C+E office buildings in Rotterdam, in the Netherlands.
The duo said they are acquiring the buildings at George Hintzenweg 77 & 89 from ARC Real Estate Partners, which sold the assets for €50m on behalf of one of their investors.
Built in 2008, the office building offers a lettable floor area of 17,710sqm and 466 parking spaces.
Monarch, together with CK as its local operating partner, operates the Monarch/CK platform that invests in well-located office assets near key transport hubs across the Netherlands. It currently owns 6 buildings in various cities across the Netherlands including Amsterdam, Rotterdam and The Hague.
CK will be responsible for the ongoing asset management of the two buildings.
Monarch and CK Capital were advised by JLL and Loyens & Loeff. The seller and ARC were advised by Cushman and Wakefield and Taylor Wessing.