Deutsche Asset Management has acquired two office buildings in the Netherlands from Fortress Investment Group for a total of €158 mln.
The asset management arm of Deutsche Bank purchased Oval Tower in the southeast of Amsterdam for €86.55 mln, according to the Dutch Land Registry (Kadaster).
Oval Tower is a 24,000 m2 office building located Entrance 99-197. The modernised building is fully let. Deutsche Bank is the largest tenant, having signed a lease on 11,000 m2 in 2011. Flexible office space provider Tribes recently opened a 2,100 m2 facility in the tower.
Other tenants include Palo Alto Networks (more than 4,200 m²), IT company Informatica, and car firms Peugeot and Citroën Nederland.
Utrecht
Deutsche Asset Management acquired the second asset in the city of Utrecht from Fortress for €71.95 mln. Renovated several years ago, the 22,000 m2 property is located on Daalseplein near Utrecht's central train station.
Rail engineering firm Movares renewed a lease on 14,000 m2 and 175 parking spaces for its headquarters in 2012. The Dutch Council for Accreditation leases 1,700 m2 and digital education platform Snappet occupies 986 m2.
The two office properties were part of the 13-asset portfolio that Fortress Investment Group acquired from Deka Immobilien for €360 mln in 2017.
