LaSalle Investment Management, acting on behalf of one of its managed funds, has acquired a 18,859 m2 office building in the Dutch city of The Hague.
LaSalle Investment Management, acting on behalf of one of its managed funds, has acquired a 18,859 m2 office building in the Dutch city of The Hague.
The property at Prins Clauslaan 20 was sold by Dutch pension fund service provider MN, acting on behalf of one of its clients.
The financial details of the transaction were not disclosed but sources in the market have put the price tag in the vicinity of €50 mln.
The property consists of an office building divided over ground floor and 19 upper floors, plus three office and retail units of 369 m2 located at Theresiastraat 13 and 15.
Prins Clauslaan 20 was completed in 1997 and has since been occupied in its entirety by the Government Buildings Agency (Rijksgebouwendienst) as part of The Hague’s Palace of Justice. The centrally located building, in the prime office area of The Hague, benefits from an A label EPC.
MN was represented by Savills. LaSalle Investment Management was advised by JLL.
MN is one of the largest pension administrators and asset managers in the Netherlands. The company manages assets worth more than €92 bn for pension funds in the Netherlands and in the UK.
LaSalle Investment Management, a member of the Jones Lang LaSalle group, has about $47 bn (€34.4 bn) of assets under management of private and public property equity investments.