Dutch group Oranje Nassau has reached agreement with a consortium of real estate investors linked to White Estate and NIBC bank for the sale of shares in a vehicle that holds Oranje Nassau's property portfolio, according to Dutch trade press . The 67,000 m[sup]2[/sup] portfolio comprises office and industrial buildings in the Netherlands, Germany and Belgium. Market sources claim that NIBC and White Estate paid EUR 165 mln for the portfolio.
Dutch group Oranje Nassau has reached agreement with a consortium of real estate investors linked to White Estate and NIBC bank for the sale of shares in a vehicle that holds Oranje Nassau's property portfolio, according to Dutch trade press . The 67,000 m2 portfolio comprises office and industrial buildings in the Netherlands, Germany and Belgium. Market sources claim that NIBC and White Estate paid EUR 165 mln for the portfolio.
Property advisor DTZ Zadelhoff acted for Oranje Nassau, while NIBC and White Estate were represented by Van Dijk & Ten Cate and Van Gool Elburg. The divestment of the property portfolio is part of Oranje Nassue's strategy to focus on its energy sector and private equity activities.