Syntrus Achmea Real Estate & Finance has acquired the Weesperstaete office building in Amsterdam for €44 mln, according to information obtained by PropertyEU from the Dutch land registry.
Syntrus Achmea Real Estate & Finance has acquired the Weesperstaete office building in Amsterdam for €44 mln, according to information obtained by PropertyEU from the Dutch land registry.
The deal reflects a gross initial yield of below 6%.
The vendor was New Ireland Assurance, part of the Bank of Ireland, which purchased the 13,000 m2 property in 2007 for €49.3 mln.
Syntrus Achmea is adding the building, located at Weesperplein 6-8 and let on a long lease to Amsterdam city council, to its Dutch Office Fund. The property is managed by State Street Global Advisors.
CBRE and JLL were reportedly involved in the transaction.
Click here for an interview with Boris van der Gijp, director strategy & research at Syntrus Achmea Real Estate & Finance about the Dutch real estate investment market.