Evans Randall Investment Management has purchased the office building rented by law firm De Brauw Blackstone Westbroek on Amsterdam's Zuidas. The office building named 'The Rock', and still under construction, covers 30,000 m² of which approximately 21,000 m² has been let to De Brauw Blackstone Westbroek.
Evans Randall paid €165 million for the building, which corresponds to a gross initial yield between 5.25% and 5.5%. The selling party is the development consortium Mahler4, a collaboration of Fortis Vastgoed Ontwikkeling, G&S Vastgoed and ING Real Estate Development.
CB Richard Ellis advised Evans Randall and Van Gool Elburg Vastgoedspecialisten represented the selling parties. To Evans Randall the acquisition of The Rock is the second major purchase in the Netherlands. A year ago this British private investment bank purchased the office building De Haagse Poort (67,000 m²) for about €203 million. CB Richard Ellis negotiated also in this transaction.
Source: CB Richard Ellis
Artist impression of 'The Rock' in Amsterdam