Tristan Capital Partners’ long-life core-plus real estate fund has bought two mixed-use hotel and office assets in Amsterdam from DW Partners.

The investment manager’s CCP 5 fund bought the 15,500sqm Orlyplein building and a four-storey 13,800sqm property located close to the Amsterdam Lelylaan intercity station.

Ali Otmar, a senior partner and deputy head of investments at Tristan Capital Partners, said: “The fund is attracted by the fundamentals of the Dutch economy, and the opportunity to realise value by capitalising on the constrained supply of new office stock in Amsterdam, and the under-supply of hotel accommodation to meet the strong growth in demand.

“The assets are located in the Sloterdijk/Teleport and Koningshof office areas, which boast superb public transport links. Both assets are office buildings partly converted into hotel space. They will provide stable cash flows through long hotel leases and offer considerable potential for value creation by stabilising the office spaces.”