IVG brings new EuroSelect fund to market

IVG Immobilien has launched a new closed-end real estate fund, EuroSelect 17 Office Center Amstelveen for the new headquarters of Dutch subsidiary of the auditors KPMG. The annual payout is expected to be 5.15% after taxes.

The new fund for KPMG's Dutch headquarters to the south of Amsterdam follows the successful placement of IVG's Luxembourg Fund. 'Private investors are looking for sound investments at the moment,' said Georg Reul, IVG board member in charge of the Funds Division. 'The Amstelveen Office Center is notable for its outstanding infrastructure link to metropolitan Amsterdam and the excellent quality of the property. The new building has been developed following KPMG’s wishes and has been leased for 15 years. This offers an opportunity for stable profits for our private investors.'

This is the second time that IVG Funds is investing in the Netherlands. In 2005 an office property in Amersfoort was offered for investment and so far has not only met expectations, but has succeeded in providing investors with a special payout of 1% for the second half of 2008.

The KPMG office is located in the Greater Amsterdam region directly adjacent to the A9 motorway between Amsterdam and Schiphol airport. Designed by Marcel van der Schalk, the complex is scheduled for completion in Q4 2009. The purchase price is EUR 159.3 mln.