German closed-end property fund manager Real IS has announced it is seeking Breeam NL BBG certification for 'The Book' office building in Amsterdam. The certification is expected to take place before end-2012.
German closed-end property fund manager Real IS has announced it is seeking Breeam NL BBG certification for 'The Book' office building in Amsterdam. The certification is expected to take place before end-2012.
The Book, dating from 2004, is located in the Sloterdijk/Teleport business district in Amsterdam and comprises 39,300 m2 of leasable space. It is fully let until 2025 to the Dutch tax and customs authorities.
Real IS acquired the property in August 2010 for its Bayernfonds Niederlande 1 investment fund which primarily targets German private investors
Real IS plans to upgrade the asset by having its energy performance certificate reclassified from 'C' to 'B' and attaining Breeam certification. Engineering consultancy Arcadis is masterminding the development process.
'Investor demand for green buildings is soaring, which is why Real IS is stepping up the pace of the certification processes for its existing property portfolio. In Germany, we already retroactively certified an asset in Düsseldorf pursuant to the German DGNB standard,' said Real IS board member Andreas Heibrock.
Real IS holds more than nine certified vintage buildings in its overall portfolio. The company manages over 100 fund products with a total investment volume of more than EUR 8 bn for private and institutional clients.
