Aviva Investors, the global asset management business of Aviva, has acquired an office building in Amsterdam from German fund manager Deka Immobilien for €85 mln.
Located at Strawinskylaan 10 in the Zuidas (South Axis) central business district, the property was divested from the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal. Constructed in 1988, it was acquired by the fund as a refurbishment with extension areas in 2004.
The asset comprises more than 8,100 m2 of leasable space over four storeys and 82 parking spaces. It is fully leased to Freshfields law firm on a long-term agreement and holds Breeam-NL In-Use certification. The property is located close to the World Trade Center.
Aviva said that the standalone nature of the building in an area of skyscrapers and multi-tenant offices further adds to its relatively unique stature.
Daniel McHugh, managing director of real estate at Aviva Investors, commented: 'The South Axis of Amsterdam is one of Europe’s premier office locations and we are delighted to have acquired such a high-class asset in the district.
'Benefitting from excellent transport links and close proximity to both Schiphol airport and the centre of Amsterdam, this is a district which attracts internationally renowned businesses. We believe it has strong future growth potential, whilst continuing our preference for high specification assets in core locations. Our expectation is that it will provide predictable, long-term income within the portfolio.'
Deka said that after holding the property for 16 years and achieving stable cash flows, the opportunity arose to sell to the benefit of the investors. The sale was performed as part of the active management of the portfolio.
Aviva Investors was advised by CMS, Royal Haskoning and Ramboll.
Savills and NL Real Estate advised Deka on the sale.
