Aberdeen Property Investors Continental Europe B.V. (“API”) has successfully sold all the units in its second Dutch limited partnership, named Renderend Bezit II C.V. (“LP”/”Partnership”), which is aimed at high net worth private investors in the Dutch commercial property market.
All the units in the €18.4 million Partnership were sold shortly after the LP was approved by the Dutch Financial Market Authority. The size of the units is €125,000. In June 2003 API launched its first Dutch limited partnership Renderend Bezit I C.V. which totals €11 million.
The Renderend Bezit II CV is a defensive portfolio, it contains three properties with an average residual lease term of 9.5 years and 26 tenants in the ‘food and beverage’ sector. The portfolio includes: a recently built shopping centre Rokade in the area Zuilen in Utrecht, a renovated industrial building in Hoofddorp, with a long lease term to Heineken Nederland, and a new turn-key industrial building in Haaften, close to the A2 and A15, long-term leased to Van Uden Food-express. The Partnership offers investors a high quality defensive investment with good quality tenants. The average cash on cash return per participant is expected to be 8% per year.
API will employ its knowledge and experience of institutional property investment for the benefit of high net worth private investors and is currently preparing a third Limited Partnership for Dutch investors.