Global asset manager Aviva Investors has acquired The Vondel Portfolio, a collection of eight office assets in Amsterdam, for an undisclosed sum.
The deal marks Aviva's second in Amsterdam’s office market in as many months, following its purchase of the FOZ building, a highly sustainable building located in the heart of Amsterdam’s business district, in March.
The Vondel Portfolio sits on the outskirts of ‘Zuidas’ or ‘South Axis’, the central business district of Amsterdam, in a creative and innovative cluster popular with IT companies and advertising agencies.
The eight multi-let properties offer a total lettable area of nearly 19,000 m2 with firms having the ability to lease space from 50 m2.
The eastern group of assets in the portfolio is situated on Europaboulevard with views across Amstelpark, whilst the southern cluster of buildings overlooks Gijsbrecht Aemstelpark, an ecological park which connects Amstelpark with Amsterdamse Bos.
George Fraser-Harding, fund manager at Aviva Investors, said: 'We are pleased to grow our presence in Amsterdam, one of Europe’s vibrant office markets and a location which is home to an enviable talent pool of labour.
'This particular portfolio of assets has high tenancy rates in a market which has seen rents strengthen substantially in recent years, whilst still offering attractive yields. We think this can provide excellent sector diversification and security of income, with the potential to deliver long-term performance benefits.'
Aviva Investors was advised by DLA Piper, with NL Asset Management responsible for the ongoing management of the Vondel Portfolio on behalf of Aviva Investors. The seller, CCP 5 Amstel Holdings SARL, was advised by Greenberg Traurig and NL real estate, Knight Frank.
