International investor Credit Suisse Asset Management Global Real Estate has acquired a life sciences project located in Leiden Bio Science Park in the Netherlands.
The new building, developed by RED Company for pharmaceutical giant Janssen, was sold for an undisclosed price.
The asset comprises 13,500 m2 office and laboratory space and is targeting BREEAM Excellent and Well Gold certificates. Construction has already commenced, with delivery envisaged for 2023.
Leiden Bio Science Park is a major life science campus hosting 215 companies. Tenants include Astellas, Galapagos, Dupont and Johnson & Johnson.
Nikola Zorijan, investment manager at Credit Suisse Asset Management Global Real Estate said: 'We are very pleased with the completion of this transaction. Grade A life science real estate in The Netherlands is highly sought-after by investors.
'The long lease with a strong covenant tenant, combined with the strategic location and high quality and sustainability of the asset makes it the ideal addition to our solid global real estate portfolio.'
L’Etoile Properties acted as investment advisor. Credit Suisse was also counselled by Houthoff as legal advisor, BBN as technical advisor, EY as tax advisor and JLL as commercial advisor.
The seller was advised by Allen & Overy.
