The Standard Life Investments With Profits Fund, on behalf of German policyholders, has completed the acquisition of four prime assets across Europe, in a combined investment worth around €108 mln.
The fund has purchased Das Goldene Haus on Leipziger Strasse in Berlin for €40.2 mln, marking its first acquisition in the German capital. The 7,170 m2 office asset is let to tenants including the German Finance Ministry and Cushman & Wakefield.
Separately, the fund has completed a duo of acquisitions in the Netherlands – the Aurora Building in Amsterdam for €40 mln and the Swiss Sense logistics hub in Uden for around €17 mln. The 9,593 m2 Aurora Building is located in the centre of Amsterdam and leased to Tommy Hilfiger Europe. The 23,629 m2 logistics asset in Uden is occupied by the mattress and bed manufacturer and retailer, Swiss Sense on a 10-year lease.
In a fourth investment, the fund has acquired 53-55 Chaussée d’Ixelles in Brussels for around €11 mln. The 1,380 m2 prime retail asset is located on one of Brussels’ principal shopping streets and is let to European retailer, La Halle, on a nine-year lease.
'These transactions complete a busy investment period during which we have invested €278 mln in prime, income generating assets in core European markets,' said Craig Thomson, fund manager of the Standard Life Investments With Profits Fund.
Standard Life Investments was represented by DTZ Zadelhoff on the Aurora acquisition, Victorios on the Chaussée d’Ixelles acquisition and Cushman & Wakefield for the Swiss Sense purchase.
