Inside Investments, a non-listed real estate fund based in the Dutch city of Hilversum, has sold nine office and industrial property assets to another Dutch business, Rembrandt Real Estate, for €17.8 mln.
The transaction relates to seven office buildings and two industrial properties totalling 27,000 m2. Almost fully leased, the assets are located in the cities of Almere, Arnhem, Houten, Naarden, Utrecht and Zwolle.
Inside Investments has held the assets for 10 years, but put them up for sale along with eight other industrial properties as it moves to focus on retail real estate, Inside director Floris Haentjens said. Following the latest sale Inside's overall portfolio comprises 6,000 m2 of offices, 72,000 m2 of industrial space and 54,000 m2 of retail.
CBRE has been mandated to market the remaining eight industrial properties. This 72,000 m2 sub-portfolio generates an annual rental income of €2.7 mln. The assets are located in Aalsmeer, Rotterdam, Den Bosch, Oldenzaal, Kerkrade, Ede and Venray.
