Micro-living specialist MPC Capital has launched a new commercial real estate platform called InTheCity, with a seed portfolio of eight office assets valued at €120 mln.
The platform will be run by MPC Capital's Dutch subsidiary, Cairn Real Estate, and follow Cairn's office strategy by focusing on sustainable, flexible assets located near major transport hubs in strong, regional Dutch cities.
'We are seeing a clear increase in demand for office space that is easily accessible by public transport,' said Maarten Briet, managing director at Cairn Real Estate.
'This is paired with a growing demand from tenants for attractive amenities and a lively, inspiring work environment for their employees. Given the quality of the assets, the profile of the tenants and the potential to further improve the properties in the area of health and well-being, we believe this to be a very interesting long-term strategy,' Briet added.
The seed portfolio consists of eight assets that were initially acquired by Cairn Real Estate in 2016 under a redevelopment mandate. The assets were originally from the former 'Transit' portfolios and have yielded a strong return for the initial investors, MPC said.
The properties total roughly 63,000 m2 of office space and are located in Groningen, Leeuwarden, Zwolle, Utrecht, Amersfoort, Schiedam and Haarlem. All office space is fully let with leases set to run for another five years.
