CBRE Global Investors has sold the three-building Zuiderhof Pavilions office complex in Amsterdam to Munich-based fund manager Real IS for €46 mln.
The fully-let office property, which comprises three buildings, is located at the Jachthavenweg in the city. The complex comprises 6,145 m2 of office space and 76 parking spaces.
'Recycling of capital is an essential part of our strategy to ensure that our portfolio remains of the highest quality. We achieve this by selling properties that no longer fit our portfolio, as well as by actively reinvesting capital on existing projects and new developments, where we can create value for our investors,' commented Ronald van der Waals, portfolio director of the CBRE Dutch Office Fund which held the property.
Real IS purchased the asset for its diversified special alternative investment fund real estate fund BGV VII Europa.
The CBRE Dutch Office Fund is a non-listed property fund managed by CBRE Global Investors with € 1.5 bn of AUM. It invests in high quality office buildings distinguished by innovative services at 10 hotspots within the four largest cities in the Netherlands.
CBRE Global Investors was advised by Cushman & Wakefield and Houthoff Buruma.
