US-based investor WP Carey said on Tuesday that its CPA:18 – Global fund has entered into a build-to-suit transaction for a Class-A office building in the southern Dutch city of Eindhoven which will serve as Rabobank's headquarters.

US-based investor WP Carey said on Tuesday that its CPA:18 – Global fund has entered into a build-to-suit transaction for a Class-A office building in the southern Dutch city of Eindhoven which will serve as Rabobank's headquarters.

The vehicle is acquiring the project from Dutch developer OVG for an undisclosed amount.

The 25,000 m2 building will be located at Rabobank's current Eindhoven headquarters site, which the Dutch banking group has occupied for more than 40 years, and will form one of the group's two global headquarters. The building has been designed with potential future multi-tenanting in mind, with each floor divisible into four independent units.

Completion is expected for the first quarter of 2017.

'This acquisition is a strategic addition to CPA:18 – Global's growing portfolio and demonstrates our ability to provide 100% financing to leading developers,' commented Jennifer Lucas, executive director of WP Carey in Europe.

WP Carey was advised on the transaction by Nauta Dutilh, Deloitte, DTZ and Victorios in cooperation with Meijs Makelaardij. The OVG Real Estate transaction team received legal support from AKD and fiscal advice from PwC.