Van Boom & Slettenhaar, a Dutch initiator of real estate funds, has teamed up with a group of private investors to purchase the 'Observer' portfolio of nine office buildings and a warehouse in the Netherlands for EUR 110 mln. Van Boom & Slettenhaar acquired a 30% share of the portfolio and is to manage all the buildings on behalf of its partners.
Van Boom & Slettenhaar, a Dutch initiator of real estate funds, has teamed up with a group of private investors to purchase the 'Observer' portfolio of nine office buildings and a warehouse in the Netherlands for EUR 110 mln. Van Boom & Slettenhaar acquired a 30% share of the portfolio and is to manage all the buildings on behalf of its partners.
In a statement, the company said its share of the portfolio and four other Dutch office buildings are being added to its new EUR 112 mln fund for private investors. The forecast return for the B & S Vastgoed Nederland fund is 7%.
Van Boom & Slettenhaar has a 10-year track record of initiating real estate funds. Earlier this year it sold properties for EUR 600 mln, generating an average total return of 14.1% for its investors. The company currently manages some EUR 700 mln worth of real estate.
