Belgian pension fund OGEO Fund and Brussels-based insurer Integrale have purchased an office asset in Rotterdam from Dutch green office developer OVG.
The investment volume for the property, known as New Tide, came to €37.5 mln, according to the Dutch Land Registry (Kadaster).
The property, located on Marten Meesweg 35 in Rotterdam, dates from 1988 and was the former headquarters of the national newspapers, Algemeen Dagblad and NRC, until they moved out in 2012.
New Tide was part of the three-asset Alexander portfolio which OVG Real Estate acquired from Sachwerte Rendite Fonds Holland 53 in 2015. The other two assets in the portfolio were Signum and New Delphi. Together the provide a total of 34,000 m2 of office space.
OVG carried out a full renovation of New Tide to transform it into a sustainable space that utilises smart technologies. Dutch bank ABN Amro provided a green loan for the project. The entire building and its 16,400 m2 of lettable area is now occupied by the police service.
