CBRE Global Investors has sold an office asset in Utrecht to a subsidiary of insurer Vivat which was acquired by Chinese investor Anbang in 2015.
Financial details were not disclosed, but PropertyEU has established on the basis of information filed with the Dutch land registry that a sum of €102 mln was involved.
The sale of the property, Hojel City Center 1 on the Croeselaan 1-3 and Graadt van Roggenweg 100-350, was carried out on behalf of the CBRE Dutch Office Fund.
The Vivat unit, SRLEV, already owned 35% of the asset.
'The disposal is part of our continued effort to upgrade our portfolio. The proceeds will be reinvested in new projects such as WTC Utrecht, NoMa House and the potential extension of WTC Amsterdam,' commented Ronald van der Waals, fund manager of the CBRE Dutch Office Fund.
The asset comprises approximately 40,022 m2 of office space and 872 parking spaces. The property is fully let to Volksbank and Vivat (formerly SNS Reaal), .
The CBRE Dutch Office Fund is a non-listed real estate fund, managed by CBRE Global Investors with € 1.5 bn AUM. The investment strategy is to invest in high quality office buildings complemented with innovative services at 10 hotspots within the four largest cities in the Netherlands.
CBRE GI was advised by Houthoff Buruma.
