French asset manager Perial has acquired the Adam Smith Building in Amsterdam for €93 mln on behalf of its PFO2 fund.
Situated at Thomas R. Malthusstraat 1-3, in the Rieker Business Park, the building comprises 21,000 m2 of office space, spread over two buildings connected at their base, and 250 parking spaces.
Built in 2002, the property was fully refurbished in 2019, when a restaurant and coffee bar was added, and its energy certificate upgraded to class A.
The Adam Smith Building is currently occupied by institutional grade tenants, including the HQ of Knab Bank, TKB, ACN and Tribes.
'In a very dynamic, but selective rental market, the Adam Smith Building constitutes an exceptional rental opportunity through its strategic location close to the city center, its good accessibility, its large floor plates and its high-quality amenities,' said Yann Guivarc’h, managing director of Perial Asset Management.
Perial said that the deal underlined its interest in the Dutch market, and its intent to reinforce its presence in the Netherlands´ main cities. It currently holds seven Dutch assets representing a deal volume north of €300 mln.
The PFO2 fund has around €2.2 bn assets under management.
The seller was advised by CBRE, Loyens & Loeff and Arcadis. Perial was advised by L’Etoile Properties, NautaDutilh (Coco van Zuiden) and SGS Search.
The transaction was partially financed through a bank loan issued by Berlin Hyp with the advisory of LPA – CGR.
