US private equity group Lone Star Funds has acquired the INIT office building in Amsterdam which houses newspaper publisher de Persgroep.
US private equity group Lone Star Funds has acquired the INIT office building in Amsterdam which houses newspaper publisher de Persgroep.
Lone Star paid about €58 mln for the property for which the vendor, Pramerica, had paid €100 mln in 2007.
The multi-tenant building located at Czaar Peterstraat 213 on Oostenburgereiland comprises 34,000 m2 of mostly open-plan space and 170 covered parking spaces. It also houses a restaurant and an auditorium.
CBRE advised Pramerica, while CMS Derks Star Busmann provided legal advice.
DTZ Zadelhoff, BNP Paribas and Boag acted for Lone Star Funds, with Loyens & Loeff advising on the legal side.