Delta Property buys 60,000 m[sup]2[/sup] of Dutch office space

Delta Property Investment, a unit of Delta Development Group, has acquired a portfolio of 11 office buildings across the Netherlands from Inflation Vastgoed. The transaction volume was not disclosed but the properties generate a total annual income of about EUR 7 mln.

The portfolio comprises 59,000 m² of space, most of which is occupied by tenants. Delta said the office properties would be renovated where necessary to optimalise their commercial performance. The transaction was financed by SNS Property Finance and DTZ Zadelhoff acted for the vendor.

Delta Development Group is an independent real estate developer and investor that operates in the Netherlands, France, Germany and Italy.