CBRE Global Investors announced the completion of the sale of a portfolio of 32 office buildings in the Netherlands on behalf of CBRE Dutch Office Fund (“DOF”) to an affiliate of Lone Star Funds.
The 302,000 m² portfolio is made up of buildings located in 12 cities spread over the Netherlands, including Utrecht, Rotterdam, The Hague, Heerlen, Maastricht and Zwollle and includes buildings known as the WTC Papendorp in Utrecht, De Haagse Arc in The Hague, the Coolse Poort in Rotterdam and Gelissendomein in Maastricht.
The sale follows the recently successfully completed strategic review of DOF which resulted in a modernisation of the fund’s structure, terms and conditions. This has improved liquidity for investors and helped position the fund to capitalise on future value growth and acquisition opportunities in the Dutch prime office market.
CBRE Global Investors was advised by CBRE, Jones Lang LaSalle, DTZ Zadelhoff and Houthoff Buruma.
Lone Star was advised by Savills, Loyens Loeff and De Brauw Blackstone Westbroek.
Source: CBRE Global Investors