Dutch real estate volumes have risen in the last two quarters after a downward spiral in the first nine months of 2011. PropertyEU Research recorded a volume of EUR 1.4 bn in three first three months of 2012. The result was almost on a par with the EUR 1.5 bn recorded in the fourth quarter of 2011.
Dutch real estate volumes have risen in the last two quarters after a downward spiral in the first nine months of 2011. PropertyEU Research recorded a volume of EUR 1.4 bn in three first three months of 2012. The result was almost on a par with the EUR 1.5 bn recorded in the fourth quarter of 2011.
The period July to end-September last year was a two-year low for the Dutch property investment as only EUR 877 mln of deals was recorded. The first and second quarters of the year each saw about EUR 1 bn of investment, less than half of the EUR 2.4 bn in the fourth quarter of 2010.
The research covers deals of EUR 20 mln and above.
The Dutch volume for the first three months of 2012 is heavily influenced by the EUR 425 mln acquisition by a consortium of the High Tech Campus in Eindhoven owned by Dutch electronics group Philips. Given that the deal was the largest single-asset property transaction ever to be closed in the Netherlands it is striking that the driving force was a high net worth individual rather than an institutional investor.
The consortium was led by Dutch billionaire Marcel Boekhoorn. The consortium comprises members of the Boekhoorn family, the management of Boekhoorn’s company Boekhoorn M&A and investment firm Chalet Group, also owned by Boekhoorn. The Chalet Group will acquire the Campus Site Management (CSM) organisation, which is responsible for the day-to-day running of the campus. Chalet will also asset-manage the complex. JP Morgan arranged financing for the transaction.
The full deal analysis for Q1 2012 appears in the May edition of PropertyEU Magazine. click on the link below to order your copy now.
