Pronam Aurora, a subsidiary of the Inter Ikea Group, has acquired the Rivierstaete office building in Amsterdam from River Estate Property.
Pronam Aurora, a subsidiary of the Inter Ikea Group, has acquired the Rivierstaete office building in Amsterdam from River Estate Property.
Financial details were not disclosed but an investment volume of €18.5 mln was recorded in the Dutch Land Registry database.
Located at Amsteldijk 166 in the south of Amsterdam, Rivierstaete provides around 27.700 m2 of office space and 357 parking spaces. Tenants include the Consulate of Peru and various ICT departments of the University of Amsterdam.
Pronam plans to carry out a large-scale revamp of the building which will include transforming parts of it for future use.
Pronam was advised on the acquisition by Peak Development and Houthoff Buruma. Deloitte Real Estate and Allen & Overy represented the vendor.
Pronam Aurora has been active as a developer-investor in the Netherlands for more than 20 years. The company has subsidiaries in Belgium, Poland, the Baltic States, the UK and Romania.
Properties owned by the company in the Netherlands include the Atlas Arena, Ramada Apollo City Centre and NH City Centre Hotel in Amsterdam, Whitepark in Delft and the headquarters of Universal Music in Baarn.
