German closed-end fund manager Wölbern Invest has acquired a newly built office building in Amsterdam for its Holland 71 fund. The investment volume amounts to EUR 99.8 mln.
German closed-end fund manager Wölbern Invest has acquired a newly built office building in Amsterdam for its Holland 71 fund. The investment volume amounts to EUR 99.8 mln.
Located on the waterfront in the port of Amsterdam, the Atrium building offers 28,700 m2 of space and 434 underground parking spaces. Two-thirds of the property are let to department store chain Hema, with the remainder taken by media group VNU. The lease terms are for 15 and 10 years respectively, with combined annual rental income put at around EUR 6.1 mln.
The closed-end Holland 71 fund has a flexible life term of five years and is targeting annual dividends of 6,5%. Investors can participate for a minimum amount of EUR 10,000. The investment volume of EUR 99.8 mln includes EUR 47.4 mln of equity.
