Heijmans and Hurks sell office building in Eindhoven (NL)

Heijmans Property Development and Hurks Property Development - both 50% partners in the Kennedy Business Center CV - have sold the 'De Kennedy Toren' office tower, part of the Kennedy Business Center (KBC) in Eindhoven, to AXA REIM. The contract value of the sale is over €66 million excluding VAT (50% Heijmans and 50% Hurks).

The Kennedy Tower is a high-quality office building in the center of Eindhoven. Heijmans and Hurks developed and constructed the building, which was completed in November 2003. The KBC tower includes a gross office floor area of approx 24,000 m². The 83-meter high building is located to the north of Eindhoven's main railway station and is easily accessible via public transportation and by car.

KBC is almost entirely leased to, for instance, Logica CMG, the City of Eindhoven, the Holland Immo Group, RSP, Black Rock, the Netherlands Patent Office and SRE (Partnership of Municipalities - Eindhoven Region).

KBC was part of Heijmans' portfolio of unsold office buildings. With this sale, Heijmans has reduced this portfolio to nil.

The buyer is AXA Investment Managers Germany for one of its funds. AXA REIM is a 100% subsidiary of AXA Investment Managers and a pan-European real estate investment company with over €43 billion in property investments held in portfolios for various funds and clients.

Source: Heijmans

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