German investor Triuva, formerly IVG Institutional Funds, has bought the Geelvinck mixed-use property on Amsterdam’s Flower Market on behalf of a pension scheme fund.
German investor Triuva, formerly IVG Institutional Funds, has bought the Geelvinck mixed-use property on Amsterdam’s Flower Market on behalf of a pension scheme fund.
The building, with 8,000 m2 of office and retail space, was acquired from the Ivy Group, which previously bought it on behalf of Triuva from Dutch fund manager Annexum. The Dutch land registry (Kadaster) valued the transaction at €25.6 mln.
The asset comprises six retail units and a restaurant on the ground floor, large-scale office floors of around 1,300 m2 each and 60 parking spaces.
Planned refurbishment works include extensive modifications to the façade and the interior design.
Triuva was advised on the deal by Nadorp Investment Services, CMS legal services and PWC. Eversheds LLP acted on behalf of Ivy Group.
