Aik (APO Immobilien Kapitalanlagengesellschaft mbH), the real estate investment company for pension funds, has bought the Rosarium office property in Den Haag from a private real estate company that is part of the DP Global Properties group. The purchase price is 9.6 million.
During the purchase process aik was advised by Knight Frank and Houthoff Buruma.
The property is located at the intersection of Jan van Nassaustraat, Wassenaarseweg and Jozef Israelsplein.
The property has a total usable area of 3,813 m² over the ground floor and four other floors. The space is rented to the Gebäudedienst des Staates Niederlande. There are also 10 flats for rent in this property and 36 underground parking spaces available for tenants.
"With the sale of the building in the boom year of the real estate market in 2007, and the very attractive buy back recently, aik was able to utilize the ideal cycle of the investment market," comments Dr. Stephan Hinsche, Spokesman of the Board of the real estate and investment company.
"This representative property in a very good location fits with aik's investment criteria. It wasn't easy to split this up from the portfolio deal. We are happy to have this property back in our stock."
Speaking for DP Global Properties Group, Board Member Ross MacDiarmid said that the property was part of a portfolio of assets acquired in early 2009, and the Netherlands was not a priority for the group's future investment plans. This transaction therefore represented a good opportunity to exit from a non-core asset at an attractive price.