HIH finds its way to TomTom office in Amsterdam

German fund manager HIH Global Invest has acquired an Amsterdam office building. The main tenant is navigation systems specialist TomTom International.

HIH acquired the Admiral de Ruyter building to Ruyterkade in Amsterdam on behalf of an unidentified institutional investor. The vendor was also a German investment vehicle.

The financial details were not disclosed by the parties but according to data in the Dutch land registry the investment volume was just under €31 mln.

The core property was built in 2008 and comprises about 7,300 m2 of office space as well as 35 parking spaces.

'We were able to perfectly meet our client’s requirements for a core investment with the acquisition of this first rate office building. This shows that there are select opportunities for safety-oriented investments with good yields,' said Andreas Schultz, CEO of HIH Global Invest.

'We will therefore continue to look for office investments in prime locations in Amsterdam and Rotterdam,' Schultz added.

Law firm Lexence acted for HIH Global Invest. Real estate agent DRS advised the vendor.

HIH has €4.1 bn of real estate assets under management. The company is part of German private bank M.M.Warburg & Co.