Vastint Netherlands, the rebranded Dutch arm of Inter IKEA Property Division, has bought a university building in Amsterdam for around €61 mln.

Vastint Netherlands, the rebranded Dutch arm of Inter IKEA Property Division, has bought a university building in Amsterdam for around €61 mln.

The Leeuwenburg, one of the largest buildings in the Dutch capital, encompasses nearly 64,000 m2 and is currently let in its entirety to Amsterdam University of Applied Sciences.

The vendor, Van der Vorm Vastgoed, negotiated a new rental contract with the university a year ago and renovated the building, which dates from the 1970s.

Vastint was advised on the sale by Peak Development, while Houthoff Buruma. NautaDutilh and CBRE acted for Van der Vorm Vastgoed.

Vastint Netherlands, formerly known as Pronam, is part of the international Vastint Group, founded in 1989 with €900 mln of assets under management.