OVG buys 60,000 m[sup]2[/sup] of office space in Amsterdam

Rotterdam-based property company OVG has acquired an office building located at Basisweg 10 in Amsterdam from Bouwinvest Dutch Institutional Office Fund, managed by Bouwinvest Real Estate Investment Management. Financial details were not disclosed.

The purchase of the asset, which provides 60,000 m² of space, 'represents a significant move in OVG's strategy to invest in existing buildings and redevelopments in the Netherlands,' the company said in a statement.

Completed in 1973, the property is fully leased to Cordares. Loyens Loeff advised the buyer.

'Current market conditions provide attractive opportunities for investment in existing buildings,' said Bas van Holten, General Manager of Nederland OVG Real Estate. 'This transaction fits into our philosophy and strategy of creating sustainability and value for the long term.'