French asset manager Amundi Real Estate has sold the PwC Tower in Rotterdam to 1Zone Capital, an equity partner of London-based family office Flemyn LLP.
Financial details were not disclosed, but information filed with the Dutch land registry reveals the 18.500 m² office was sold for €38 mln.
Amundi purchased the building, which is located at Fascinatio Boulevard 350 in Rotterdam, from German fund manager KanAm in 2016 as part of a package of five assets costing a total €875 mln. KanAm had acquired the property from accountancy firm PwC in 2005 shortly after its completion.
PwC occupies most of the building on a lease which expires in 2025. The remaining 3873 m² of space is on offer at a rent of €150 per m² per year.
1Zone Capital was advised on the deal by Colliers International, NautaDutilh, Freshfields Bruckhaus Deringer and Boodle Hatfield. JLL acted for the vendor in partnership with Cushman & Wakefield and Greenberg Traurig.
Flemyn LLP was co-founded in August 2013 by Luigi Gatti Bonati and Mark Valentine as a co-investment boutique specialising in direct real estate investment.
