ING Real Estate is buying the portfolio of KFN, one of the largest office property companies in the Netherlands, from Dutch pension fund ABP. The details of what ING Real Estate described as the largest real estate transaction ever in the Netherlands will be revealed by the Dutch real estate group and ABP on Monday during a press conference at the World Trade Center (WTC) Amsterdam.
ING Real Estate is buying the portfolio of KFN, one of the largest office property companies in the Netherlands, from Dutch pension fund ABP. The details of what ING Real Estate described as the largest real estate transaction ever in the Netherlands will be revealed by the Dutch real estate group and ABP on Monday during a press conference at the World Trade Center (WTC) Amsterdam.
The 120,000 m2 WTC in the south of Amsterdam is the jewel in the crown of KFN's portfolio which comprises a total of 600,000 m2 of office space spread over 80 properties in 15 urban locations in the Netherlands. KFN and ING Real Estate are joint investors in the WTC Amsterdam.
ABP confirmed in September last year that it was considering the sale of at least part of its wholly-owned KFN unit. The pension fund hired merchant banks Kempen & Co and Morgan Stanley to advise it on the future of KFN.
In 2006, ABP sold its majority stake in unlisted Dutch residential property unit Vesteda and earlier merged its retail fund Winkel Beleggingen Nederland with VIB, which has since become property investor Corio.
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