German institutional fund DWS Grundbesitz has acquired the Rivierstaete office building in Amsterdam in the largest Dutch single asset office deal of the year.
Located at Amsteldijk 166, the Breaam Very Good-certified complex provides around 30,000 m2 of space as well as 330 parking spaces. It was sold for €228 mln by Vastint Netherlands, the Dutch unit of Inter Ikea Property Division's holding company.
Vastint spent over €18 mln in 2013 to renovate the outdated building which was largely empty at the time.
First built in 1973, the asset is currently fully leased to several parties including WPP, a British advertising and PR company, tech company Messagebird and flexible office provider Regus.
CBRE, Houthoff and PwC advised Vastint. The buyer was represented by Rubens Capital Partners and Loyens & Loeff.
