Financial group ING is to auction a portfolio of 19 office properties across the Netherlands worth a total of some €30 mln, PropertyEU has learned.

Financial group ING is to auction a portfolio of 19 office properties across the Netherlands worth a total of some €30 mln, PropertyEU has learned.

The properties, which were previously owned by US investor Behringer (formerly Behringer Harvard), will be auctioned in two phases on March 6 and March 26.

If the online sale does not raise enough interest, the assets will be transferred to ING's bad bank, Cofiton. Cushman & Wakefield is advising the vendor on the deal.

Dallas-based Behringer Harvard entered Europe in 2006 through the launch of a joint venture with German fund manager HCI Capital. The partners aimed to build up a €1 bn portfolio in Germany and the Netherlands but ran into financial difficulties following the onset of the credit crisis.

On March 6, ING is auctioning the first six assets consisting of Overschiestraat 63-65 in Amsterdam, Zielhorsterweg 73, 75 en 79 in Amersfoort, Diamantstraat 3 in Hengelo, Aalsmeerderweg 604-610 in Rozenburg and Apennijnenweg 9 in Tilburg.