Valad Europe has teamed up with Angelo, Gordon & Co to acquire the Equinox portfolio of office buildings in the Netherlands from D/L Real Estate.
Valad Europe has teamed up with Angelo, Gordon & Co to acquire the Equinox portfolio of office buildings in the Netherlands from D/L Real Estate.
The portfolio comprises nine office buildings totalling 50,198 m2, eight of which are located in the Randstad area in the densely populated west of the country and one in the northern city of Groningen.
Financial details were not disclosed.
Let to 37 occupiers, including Rijksgebouwendienst, Bureau Jeugdzorg and Regus, the portfolio has a weighted average lease term of three years.
Christian Bearman, Valad Europe’s Chief Operating Officer, commented: 'We will be implementing an intensive asset management strategy across the portfolio, primarily focussed on the existing tenant customers, letting vacant units and repositioning the assets in order to improve income and capital values.'
He added: 'The Equinox Portfolio is representative of the opportunities starting to emerge from some of the larger non-performing loan books in the Netherlands. We remain primed and on the look-out for more deals across the Benelux region.'
