Novaxia Investissement, investing on behalf of its OECD-focused diversified real estate investment strategy, has acquired a Dutch office portfolio from GARBE Institutional Capital.

Novaxia Investissement has bought the portfolio of 6 assets located in Rotterdam, The Hague, Utrecht and Hilversum on behalf of the Novaxia Neo fund for an undisclosed amount.

The asset comprises 41,000sqm of offices, 3,000sqm of school and 1,100sqm of shops. The portfolio is 97% let to 65 tenants and an average remaining lease term of more than 5 years.

Mathieu Descout, president of Novaxia Investissement, said: “We are continuing the European diversification of the Novaxia NEO portfolio through these six new acquisitions in economically strong cities. In 2023, we will continue our acquisition strategy with diversification both geographically and in terms of building type.”

Michiel Dubois, managing director Garbe Institutional Capital, said: “We successfully executed another part of our long-term disposal strategy for one of our funds under management.

“The transaction is a healthy signal for the Dutch commercial real estate market. It shows that the demand for premium office properties remains at high levels in the current market environment.”

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