German lender Berlin Hyp is providing a five-year loan of €78 mln to Aviva Investors for the purchase of the Foz office building in Amsterdam-Zuidas.
‘We are pleased to have supported our client with this acquisition in the Netherlands, one of our foreign target markets,’ commented Teresa Dreo-Tempsch, management board member of Berlin Hyp.
Built in 2009, the seven-storey office building is located in Amsterdam’s Zuidas central business district and has a total rental area of 12,700 m2. Two of the tenants law firm Simmons & Simmons and the globally operating IT service provider Snowflake Computing Netherlands.
The building was awarded BREEAM In-Use Excellent certification and EPC Label A, which allows it to be used in a Green Pfandbrief issued by Berlin Hyp, threfore increasing the proportion of green financing in the portfolio.
Knight Frank Capital Advisory supported Aviva Investors throughout the transaction.
George Fraser-Harding, fund manager at Aviva Investors, said: ‘We are very happy to have acquired FOZ, an iconic building located prominently at the centre of one of Europe’s most dynamic office markets. As well as being in keeping with our wider climate transition strategy, sitting alongside our work to actively decarbonise existing inefficient real estate assets, this building is also reflective of our continued ambition in continental Europe, a market we believe offers great potential to deliver long-term performance in client portfolios.’
