DEGI, part of Aberdeen Property Investors, has extended a long-term lease contract for the largest property of the DEGI EUROPA openend property fund, in the shape of around 55,000 m² of the Maanplein office building in The Hague being leased by KPN, the Netherlands' main telecommunication company, till 2020. With this agreement three-quarters of the office complex is let on a long-term basis to an anchor tenant.
The 55,000-m² Maanplein office building in The Hague.
Maanplein property consists of twelve office buildings which were completed between 1998 to 2000 and let to KPN who has used the complex since then as their headquarter.
This property, with a current market value of more than €200 million, accounts for around 8% of the fund`s assets. "With this tenancy, DEGI EUROPA is underlining its sustainable profitability," emphasizes Bärbel Schomberg, CEO of DEGI`s Management Board.
Maanplein is part of the portfolio owned by the open-ended property fund DEGI EUROPA. This fund, invested solely in economically buoyant property markets, currently manages assets of around €1.7 billion. The property assets are broadly diversified: around 33% in Germany, 18% in France, 15% in the Netherlands, 14% in Italy and approximately 20% in other European countries.
In sum DEGI manages property assets worth more than €350 million for all funds in the Netherlands.