The Curzon Funds Group of AEW Europe said on Wednesday that it has acquired the Winston Churchill Tower office building in Rijswijk, the Netherlands, for just over EUR 40 mln. The 23-storey building was purchased together with joint venture partner Akron Group, on behalf of the oversubscribed fund Curzon Capital Partners II LP. The fund is the second in a series of core-plus pan-European office, retail and logistics funds managed by Curzon.
The Curzon Funds Group of AEW Europe said on Wednesday that it has acquired the Winston Churchill Tower office building in Rijswijk, the Netherlands, for just over EUR 40 mln. The 23-storey building was purchased together with joint venture partner Akron Group, on behalf of the oversubscribed fund Curzon Capital Partners II LP. The fund is the second in a series of core-plus pan-European office, retail and logistics funds managed by Curzon.
'This property represents a classic repositioning opportunity which fits perfectly into our Dutch strategy for CCP II,' said Ric Lewis, the fund's senior portfolio manager and CEO of Curzon. The takeover price 'shows that with a good local partner, values can still be found in this market,' he added.
Commenting on the deal, Akron's CEO Christian Thalhammer said: 'The acquisition of this property is part of our long-term involvement in the Dutch market and underlines our expansion strategy in this sector.' The Churchill Tower is the joint venture's second acquisition on the Dutch market this year. In August, Curzon/AEW Europe and Vienna-based Akron bought the Teleport Boulevard in Amsterdam from ING Real Estate.
