French property investor Amundi real estate has purchased a single-tenant office in Amsterdam from Warburg-HIH for an undisclosed sum.
German fund Warburg-HIH Invest originally acquired the asset at Admiraal de Ruyterkade 154 for an occupational pension scheme in February 2013.
'With this strategic sale, we have achieved a capital return of 200% for the pension scheme within the space of just four years,' commented Andreas Schultz, managing director transaction management international. 'Our strategy of gaining early entry to what was, just a few years ago, a very affordable Amsterdam office market, has paid dividends for our investor. The Netherlands continues to be a strategically important market for us.'
Navigation system specialist TomTom has had its headquarters in the building since its completion in 2007. The property comprises around 7,300 m2 of office space and also provides 32 parking spaces. In 2016, TomTom agreed the early extension of its lease until at least mid-2023.
Warburg-HIH was supported by Cording Real Estate Group, Amsterdam, and received legal advice from the law firm Houthoff Buruma.
Amundi Real Estate was represented by L´Etoile Properties, and advised on legal and fiscal matters by Greenberg Traurig LLP.
Royal Haskoning DHV advised on a technical level. DRS Makelaars acted as broker.
