AEW acquires two office assets in Rotterdam (NL)

AEW acquires two office assets in Rotterdam (NL)

AEW, acting on behalf of AEW Europe Value Investors II (EVI II), has acquired two assets located in Rotterdam, the Netherlands, from HighBrook Investors with a total GLA of over 27,000m². This is the third investment for the EVI II Fund, following recent acquisitions in Munich and Madrid, bringing the total portfolio value close to €200m. 


Boompjes 258 is situated on the banks of the River Nieuwe Maas and has panoramic views over the city. The asset underwent renovation in 2018 and comprises over 16,000m² of grade A lettable space over 22 floors.


The second property, Vasteland 10-40, is a mixed-used asset which is located 500m away from Boompjes 258, adjacent to the Vasteland tram station. It comprises almost 4,000m² of retail space on the ground and first floors and over 6,000m² of office space on the upper six floors. The building was refurbished in 2017 and is multi-let to 14 tenants. Both assets hold Grade A energy labels.


Carsten Czarnetzki, Fund Manager of EVI II, commented: “In line with our Fund strategy, these properties are in one of the most dynamic submarkets of Rotterdam, at a time when increasing take-up is being met by dwindling supply. We have an excellent opportunity to actively drive occupancy against a backdrop of reduced supply of good quality office space, repositioning into high quality, multi-let properties to meet current needs. We have a strong pipeline of potential acquisitions in place and through our network, we are seeing opportunities across Europe to deliver value on behalf of our investors.”

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