aik (APO Immobilien-Kapitalanlagegesellschaft mbH), the property investment company for occupational pension funds and insurance companies, acquired an office building in Arnhem in the Netherlands for one of its open-ended funds.
The acquisition was structured as a sale and leaseback transaction. The seller of the property is the law firm Dirkzwager advocaten & notarissen N.V. which leases back the total property space on a long-term basis.
The investment costs amount to a total of 11 million. As a purchaser, aik was represented by DPS real estate B.V. and Houthoff Buruma. Technical due diligence was performed by Arcadis. Strijbosch Thunnissen Bedrijfsmakelaars Arnhem, partner in Dynamis, represented the seller. RPS Nederland was involved as technical advisor.
The office building was completed in 2001. The building's very modern architecture and a high-quality building substance account for the main features of the property. The total net floor area amounts to approx. 5,175 m² spread over ground floor and six upper floors.
The spacious representative lounge area extends over two floors. The property is fully let to the renowned law firm Dirkzwager advocaten & notarissen N.V. on a long term and shows 100% occupancy.
The building is located in the Arnhem's office segment Velperpoort, well connected by the local train station in the immediate vicinity. The property is adjacent to a spacious and modern office building development area with numerous national and international lessees, mainly service industry and government sector tenants, for example the military chamber of Arnhem Court of Appeal, Arcadis, ING Bank, and Alliander.
Its central location in the Netherlands and at the same time its closeness to Germany makes Arnhem an important transit location for business contact with Germany.
"The high-quality building substance combined with a very well-connected micro and macro location and a long-term lease agreement with a renowned and creditworthy tenant make such investment especially attractive for us," explains Dr. Stephan Hinsche, spokesman of the property investment company.
"With this acquisition aik yet again takes advantage of the opportune timing for entering the currently weak Dutch real estate market."
Source: aik - APO Immobilien-Kapitalanlagegesellschaft mbH
