German fund manager Real IS has bought a fully let office building at Raamplein 1 in Amsterdam for €21 mln.
The acquisition was made on behalf of Real IS' BGV VII Europe Investment Fund.
The scheme provides 3,200 m2 of office space over four storeys let to Warner Bros, which uses it as its headquarters in the city. Built in 1905, the property originally served as a school and was not converted to offices until 2013, after its acquisition by broadcaster Reinout Oerlemans who used it as the headquarters of TV production company Eyeworks (which was taken over by Time Warner two years later).
'Thanks to our excellent contacts in the market, we have had the unique opportunity to purchase a high-quality investment object,' said Jochen Schenk, CEO of Real IS.
This is the eighth investment by the BGV VII Europe Fund. The fund focuses entirely on eurozone countries, especially Germany and France, complemented by the Benelux, Spain and Ireland. It focuses on core and core-plus investments with a manage-to-core strategy.
Real IS was advised by Savills.
