Credit Suisse shops in The Netherlands for EUR 125m

Frankfurt-based Credit Suisse, on behalf of its real estate fund CS Property Dynamic, has acquired a mixed office/warehouse portfolio in the Netherlands from Dutch developer Kroon Group, for a total investment of EUR 125 mln.

The portfolio comprises three standing investments; the 13,557 m² Meander office building situated in Arnhem, the 7,157 m² Maximus office building situated in Utrecht, the 11,500 m² De Hurk office/warehouse building situated in Eindhoven and two new office developments to be delivered in 2008/2009; the 1,800 m² Axians office building situated in Utrecht, the 2.635 m² Dynamic Enterprises office building situated in Utrecht.

Part of the De Hurk property has been transformed into a state-of-the-art data centre leased for 10 years to IT-service provider Atos Origin. The portfolio has long term lease contracts with tenants such as GlaxoSmithKline, Vitens, Axians, KWS Infra and Stam en de Koning. Credit Suisse has been advised by legal advisor Houthoff Buruma, technical advisor CVO International and 3stone Real Estate.