British property manager Prupim has acquired a landmark office building in the central Dutch town of Amersfoort for EUR 47.5 mln on behalf of the M&G European Property Fund. The complex, which houses the headquarters of supermarket supplier Schuitema, was bought from Mondia Investments and represents Prupim's second deal in the Dutch property market to date. The yield on the transaction was 6.25%.
British property manager Prupim has acquired a landmark office building in the central Dutch town of Amersfoort for EUR 47.5 mln on behalf of the M&G European Property Fund. The complex, which houses the headquarters of supermarket supplier Schuitema, was bought from Mondia Investments and represents Prupim's second deal in the Dutch property market to date. The yield on the transaction was 6.25%.
The building, comprising 15,600 m2 of office space, is located on industrial estate De Hoef next to the A1 motorway which links Amsterdam to Germany.
'This purchase increases the M&G European Property Fund’s exposure to offices as the Dutch office rental cycle begins to recover, and also provides the Fund with an exceptionally long security of income,' Prupim fund manager David Jackson said.
Jones Lang LaSalle advised Prupim on the deal and Van Gool Elburg acted for the vendor. Prupim is part of the M&G Group of Companies which is the asset management arm of insurer Prudential.