Dutch electronics group Philips has sold its High Tech Campus in the city of Eindhoven to a consortium led by private investor Marcel Boekhoorn for EUR 425 mln, the two parties confirmed on Thursday. The deal is the biggest single-asset property transaction ever to be closed in the Netherlands.
Dutch electronics group Philips has sold its High Tech Campus in the city of Eindhoven to a consortium led by private investor Marcel Boekhoorn for EUR 425 mln, the two parties confirmed on Thursday. The deal is the biggest single-asset property transaction ever to be closed in the Netherlands.
The consortium comprises members of the Boekhoorn family, the management of Boekhoorn’s company Boekhoorn M&A and investment firm Chalet Group, also owned by Boekhoorn. The Chalet Group will acquire the Campus Site Management (CSM) organisation, which is responsible for the day-to-day running of the campus. Chalet will also asset-manage the complex.
The High Tech Campus consists of a developed site covering some 246,000 m2 as well as 130,000 m2 of potential office and R&D space.
The campus houses around 90 businesses which together employ some 8,000 researchers, developers and entrepreneurs. The companies are primarily active in the areas of high-tech and embedded systems, life sciences and infotainment.
Commenting on the deal, Boekhoorn said: ‘When Philips announced its intention to sell the buildings and part of the Campus infrastructure, we were immediately interested. The Campus houses a number of excellent companies such as Philips, NXP, IBM and several leading knowledge institutions.This acquisition was a once-in-a-lifetime opportunity. The deal is a logical step in our strategy to continue to invest in innovative businesses.’
Philips was advised on the transaction by Jones Lang LaSalle.
