JLL and DTZ Zadelhoff to advise on ABN Amro branch sell-off

ABN Amro Bank said on Tuesday it has selected Jones Lang LaSalle and DTZ Zadelhoff to advise it on the sale of around 70 branch offices throughout the Netherlands in the wake of its merger with Fortis Bank. The sale process is scheduled to start in September, with valuation services being provided by Cushman & Wakefield and Troostwijk Taxaties.

Besides the sale of the Dutch branch offices, ABN Amro has signed framework agreements with Jones Lang LaSalle and DTZ Zadelhoff to supply accommodation and transaction management advice worldwide. JLL has been selected as preferred supplier, with DTZ Zadelhoff acting as second supplier.

ABN Amro earlier announced it planned to close 30 main and regional offices in the Netherlands, including Fortis Bank Nederland branches, over the next three years. Three-quarters of these properties are rented and have leases which are due for renewal or on which the leases have been discontinued. The remainder is owned by the bank and will be sold or rented. The new merged bank will have two headquarters in Amsterdam on the Gustav Mahlerlaan and Foppingadreef.