An opportunistic fund managed by Tristan Capital Partners has acquired the Siemens Netherlands headquarters located at Prinses Beatrixlaan in The Hague.
Tristan Capital’s EPISO 6 fund, together with its local partner Timeless Investments, has acquired the 29,065sqm asset from Corporate Office Fund VII, a consortium of Rinkelberg Capital and Eikenbosch Holding. Financial details were undisclosed.
The asset consists of two inter-connected buildings, each with its own entrance and highly divisible floorplates.
Tristan Capital said the plan for the asset involves redeveloping and further enhancing the asset’s environmental, social and governance performance.
Kick Van der Wel, executive director at Tristan Capital Partners, said: “The acquisition of the Siemens’ headquarters presented an opportunity to capitalise on the strong office market in the area.
“The lack of available Grade A stock coupled with a constrained development pipeline makes this an attractive proposition as occupiers continue a flight to quality.”
Tim van Veggel, managing partner at Timeless Investments, said: “The multifaceted business plan plays to our strength and capabilities as an active investor and quality developer.”
Tristan Capital Partners was advised by Greenberg Traurig, SGS Search and PWC. The seller was advised by Cushman & Wakefield, Loyens & Loeff and SGS Search.
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