The Curzon Funds Group of AEWEurope has acquired, together with joint venture partner AKRON Group,the 23-storey Winston Churchill Tower office building in Rijswijk, The Netherlands on behalf of the oversubscribed fund Curzon Capital Partners II L.P., the second in a series of core-plus pan-European office, retail and logistics funds managed by Curzon.
"This property represents a classic repositioning opportunity which fits perfectly into our Dutch strategy for CCP II" said Ric Lewis, the Fund's Senior Portfolio Manager and Chief Executive Officer of Curzon."We acquired for just over 40 mln. which shows that with a good local partner, values can still be found in this market. The AKRON Group, who will act as joint venture and operating partner, continues to help us to further build on our presence and portfolio in the Dutch markets," added Rob Reiskin,Managing Director and Head of Investments for Curzon.
"We are very pleased to have the Churchill tower in our portfolio. The acquisition of this property is part of our long-term involvement in the Dutch market and underlines our expansion strategy in this sector" says Christian Thalhammer,CEO of the AKRON Group. "After acquiring Teleport Boulevard in Amsterdam from ING Real Estate in August, Churchill Tower is the second successful acquisition within our joint venture."
Source: Curzon Global Partners