Dutch property fund Nieuwe Steen Investments has bought eight properties in the Netherlands from the Philips pension fund for a total EUR 143 mln. The portfolio comprises more than 73,000 m[sup]2[/sup] of office and retail space centred on the central urban conurbation. The rent revenues total EUR 11.2 mln. Half the portfolio is leased to government agencies.
Dutch property fund Nieuwe Steen Investments has bought eight properties in the Netherlands from the Philips pension fund for a total EUR 143 mln. The portfolio comprises more than 73,000 m2 of office and retail space centred on the central urban conurbation. The rent revenues total EUR 11.2 mln. Half the portfolio is leased to government agencies.
The new acquisitions mean the spread of Nieuwe Steen’s portfolio is now made up of 52% offices, 42% retail, 5% commercial buildings and 1% residential.
The portfolio includes a 1900s office building in the centre of The Hague which has just been renovated and office and retail complex in the heart of Rotterdam.
