Tel Aviv-listed Aspen Group has acquired three office properties in the Netherlands for €53 mln as part of its European expansion plans.
Tel Aviv-listed Aspen Group has acquired three office properties in the Netherlands for €53 mln as part of its European expansion plans.
Aspen has been active in the logistics property sector in the Netherlands since 2009, but this was its first office deal in the country, which was carried out with Dutch asset manager APF International.
German lender Berlin Hyp provided debt financing.
The assets are a 13,560 m2 property, leased to credit insurer Atradius, on David Ricardostraat 1/Johan Huizingalaan 8 in Amsterdam; a 3,800 m2 building on Jacobus Spijkerdreef 1 and 3 in Hoofddorp, which is leased to Kawasaki Motors Europe; and, a 4,500 m2 newly delivered office building, leased to technology firm 3M, at Molengraaffsingel 29 in Delft.
The asset in Delft was sold by a joint venture between Cordeel Bouw, and Cepezed Projects.
The vendor of the Amsterdam and Hoofddorp properties was German investor IVG. Earlier this year IVG agreed to sell the properties to Canadian investor Maplewood, but the deal fell through, allowing Aspen to enter the picture.
Aspen plans to build up its office and logistics holdings in the Netherlands as part of a wider European expansion. The Israeli company is currently active in the Netherlands, Germany and Switzerland, with a focus on office and logistics assets.
