PGIM Real Estate, the property investment arm of Prudential Financial, has acquired Diana & Vesta, a modern office property in Amsterdam, from local investor Reggeborgh.
Financial details were not disclosed but according to information filed with the Dutch land registry, PGIM paid €34.4 mln.
'The acquisition of Diana & Vesta is an ideal opportunity for our investors to capitalise on the strength of the Dutch economy, its continued employment growth and Amsterdam’s tightening office supply in a location that is experiencing significant improvement and redevelopment,' said Dominik Brambring, PGIM's head of transactions for Germany and the Netherlands.
PGIM executed the deal on behalf of one of its European core plus funds.
Diana & Vesta comprises 24,428 m2 of office space in the Plaza Arena office development, located in the northern part of Amsterdam-Southeast.