Private equity group Quinlan Private said it is launching a West European Office Fund (WEOF) which will comprise the Atrium office complex in Amsterdam and two other recently-acquired properties in Frankfurt and London. The company confirmed that it has acquired the Atrium office complex in Amsterdam for about EUR 200 mln from Tishman Speyer. The deal reflects a yield of 5.25%. 'The WEOF will provide investors with an opportunity to achieve a strong return on investment while diversifying geographic risk by investing in three office properties in three distinct markets,' Quinlan Private said in a statement.
Private equity group Quinlan Private said it is launching a West European Office Fund (WEOF) which will comprise the Atrium office complex in Amsterdam and two other recently-acquired properties in Frankfurt and London. The company confirmed that it has acquired the Atrium office complex in Amsterdam for about EUR 200 mln from Tishman Speyer. The deal reflects a yield of 5.25%. 'The WEOF will provide investors with an opportunity to achieve a strong return on investment while diversifying geographic risk by investing in three office properties in three distinct markets,' Quinlan Private said in a statement.
The WEOF will comprise the recently acquired BleichStrabe 1 hotel and office complex in Frankfurt together with Senator House in London. The cumulative purchase price of the three properties in the WEOF is about EUR 430 mln. The Atrium comprises about 34,000 m2 of prime office accommodation and 665 parking spaces in the heart of Amsterdam's central business district Zuidas. The landmark property is fully let to a wide range of financial, legal and corporate tenants including Optiver, Greenberg Traurig, Jones Lang Lasalle, Cushman & Wakefiel, Yacht Tata en Egon Zehnder. Originally constructed in 1971, the asset was completely redeveloped in 1991 and substantially refurbished in 2005.
