Bayer Pensionskasse, advised by international real estate advisor Savills and Houthoff Buruma, completed on the sale of a 12,000 m² office building in Eindhoven, the Netherlands, at last week's MIPIM real estate conference held in Cannes.
The property, located at Stadhuisplein 10, has been part of Bayer Pensionskasse's portfolio for over 15 years and has been sold to privately-owned asset manager Solidiam.
The fully-let office building is occupied by the municipality of Eindhoven, which has signed a new nine-year lease. The building is expected to generate an annual income of 2.2 million per year.
Clive Pritchard, Head of Investment at Savills Amsterdam, says: "This is a great deal to come out of MIPIM, a fully-let office building with good tenants."
Baker Mckenzie and Appelhoven Vastgoedadviseurs advised Solidiam.