#Provadare Savills to manage two Union Investment assets in Amsterdam Zuidas

Union Investment has appointed Savills to manage two of its recent acquisitions in Amsterdam’s Zuidas business district.

Savills will manage the headquarters of Dutch coatings specialist AkzoNobel and law firm Stibbe, both of which are being built by Dutch developer Dura Vermeer. The 15,216 m2 AkzoNobel building is due to be completed in August this year, while Stibbe’s 13.083 m2 offices will be finished in March 2016.

Both tenants were involved in the selection process for the asset manager. Peter Sybesma, managing director of Savills Property Management, said: ‘It has been an exciting pitch selection, and because of the participation of the tenants a good learning experience.’

AkzoNobel’s headquarters were acquired in March 2013 while under construction for Union Investment’s UniImmo:Europa fund for €82 mln. The Stibbe offices were bought from Dura Vermeer last January for €54 mln.

Hamburg-based Union Investment and its German peer Deka have been the most active investors in the Zuidas district in the last few years. Last April Union announced it had acquired the ITO + SOM office complex, two buildings offering 52,000 m2 of office and retail space with a total book value of €235.7 mln. The company also owns the Motel One development, the 207-Crowne Plaza hotels and the 25,000 m2 UN Studio.