Rabobank's Dublin-based ACC Bank Wealth Management unit is launching a new international property fund to its national client base. The fund is buying three prestigious and historic office properties in central Amsterdam from a consortium of international investors for EUR 38 mln.
Rabobank's Dublin-based ACC Bank Wealth Management unit is launching a new international property fund to its national client base. The fund is buying three prestigious and historic office properties in central Amsterdam from a consortium of international investors for EUR 38 mln.
The fund's properties, which comprise 14,000 m2 of office space, will be managed by Bouwfonds, one of the Netherland's leading property asset managers. Bouwfonds, which is also part of Rabobank, has assisted ACC with the acquisition of the properties and the structuring of the fund.
ACC believes that the new fund will offer clients diversification into a high yielding, mature and established property market. 'This fund and its three initial landmark properties offer our clients international property diversification into one of Europe's highest yielding and most attractive property markets. ACC Wealth Management looks forward to continuing to offer such innovative products and to build on the global presence of its parent Rabobank,' said John Grehan, general manager of ACCBank.
ACC is a wholly owned subsidiary of Netherlands-based bank Rabobank. Rabobank has 267 offices in 35 countries outside the Netherlands and has global assets of more than EUR 500 bn,
