New York-based investment fund HighBrook Investors has acquired an office asset in the Netherlands from Rockspring Property Investment Managers.
Rockspring said it sold the Le Mirage office building in Utrecht on behalf of a separate account client.
No financial details were disclosed.
”The transaction has been undertaken by Rockspring earlier than anticipated, with the business plan for the asset having been implemented ahead of schedule following high levels of occupier demand for space in the property,” Rockspring said.
In July 2015, Rockspring acquired Le Mirage for €20.9m from Eurocommerce Projectontwikkeling BV, on behalf of a separate account client.
Laurien van Wieringen, the head of asset management in Benelux for Rockspring, said: “Our achievements in swiftly re-positioning this underperforming office asset, by applying proactive local asset management to successfully boost occupancy, net operating income and value for our client, is reflected in our ability to dispose of the asset into a strengthened market well ahead of our initial schedule.
“We believe this is the perfect time for us to crystallise returns for our client, during a period when the office markets in major Dutch cities outside of Amsterdam are continuing to experience strong growth in occupier demand.”
Rockspring has recently been acquired by Patrizia Immobilien.