Homburg Invest has entered into a joint venture with German open-ended real estate fund manager Degi for the sale to Degi of the Homburg-Harris Centre in Calgary for CAD$376 mln (EUR 253 mln).
Homburg Invest has entered into a joint venture with German open-ended real estate fund manager Degi for the sale to Degi of the Homburg-Harris Centre in Calgary for CAD$376 mln (EUR 253 mln).
Homburg Invest - owned by Dutch-Canadian investor Richard Homburg - is acquiring a 10% holding in the newly established property holding company while Homburg Canada will be handling local management of the property. The Homburg-Harris Centre is a two-tower office complex located in the central business district of Calgary. Upon completion, it will feature a total area of more than 56,000 m2 of office space and parking for about 400 cars.
K&O Property Management of the Netherlands acted as the exclusive advisor to Homburg Invest in the transaction. Jan van Zuijlen, commercial director of K&O, said: 'We are very proud that we have been able to introduce these two major real estate companies to each other and have been able help find an optimised deal structure for both. Homburg will deliver a building of superb quality and we trust in a very prosperous future for the new partnership'.