Investment vehicles managed by US financial group Goldman Sachs have acquired two office properties in the Netherlands for an estimated €76 mln, PropertyEU has learned.
New York-based Fortress Investment Group was the vendor in both transactions.
Den Bosch
The largest deal involved a Goldman Sachs vehicle acquiring the headquarters of Dutch energy company Essent in the southern Dutch city of 's-Hertogenbosch (commonly referred to as Den Bosch).
The 32,000 m2 building (pictured) is situated at Willemsplein 2. PropertyNL and its Dutch real estate database Ventu estimates the investment volume at €65 mln. PropertyNL is the Dutch-language sister publication of PropertyEU.
The Hague
Around the same time, Hummingbird, another vehicle managed by Goldman Sachs, acquired the 8,000 m2 office building at Borderwijklaan 18 in The Hague. The Dutch land registry, known as the Kadaster, lists the investment volume as €11 mln. The tenant is oil and gas group Total E&P.
JLL acted for Fortress in the two deals, according to market sources. JLL did not comment. The buyer was reportedly not represented by an external property adviser.
Liv portfolio
Both assets were part of the larger Liv portfolio which Fortress acquired from German fund manager Deka Immobilien for €360 mln in October 2017.
The Liv portfolio was made up of 13 office buildings that provide a total of 175,000 m2 of GLA and 2,287 parking spaces. The offices are spread over seven locations in the Randstad (Amsterdam, Utrecht, Rotterdam and The Hague) and Den Bosch.
Fortress sold two other Liv properties in December 2017. These were the Oval Tower in the southeast district of Amsterdam and a property occupied by engineering consultancy Movares on Daalseplein in Utrecht. It was estimated at the time that the combined volumes for the two deals came to €158 mln.
