Hannover Leasing has purchased the grade A office complex 'Piet Hein Buildings' in Amsterdam in an institutional club deal.
The investors are Finnish insurer Ilmarinen and a French insurance firm, while the seller is a Dutch private fund. The terms of the deal were not disclosed.
'With this club deal we continue our strategy in the institutional sector,' commented Michael Ruhl, managing director of Hannover Leasing.
'After the successful placement of the two office assets "Covent Garden" and "Belair" in Brussels to institutional investors, this is another significant transaction showcasing our access to institutional clients and attractive investment opportunities in a challenging market environment,' Ruhl added.
Hannover Leasing is slated to take over the asset management of the property upon closing.
The 'Piet Hein Buildings' scheme was built in the redeveloped former port area of Amsterdam in 2003. The complex includes approximately 32,000 m2 of lettable area in three interconnected buildings, each of which has a dedicated entrance. The property includes 366 underground parking spaces and a separate bus garage serving an adjacent cruise ship terminal.
The property is fully let to tenants including Booking.com, Teva Pharmaceuticals and Hay Group.
CBRE acted on behalf of the seller, in cooperation with NL Real Estate. Nauta Dutilh provided legal advice.
