Hamburg Commercial Bank (HCOB) has provided the financing to a fund managed by private equity firm HighBrook Investors for the purchase and revitalization of an Amsterdam office building. The financing amount is in the lower double-digit million euro range, the term is five years. The office building, built in 1983, covers a total area of more than 3,000m² and is centrally located near the Rijksmuseum in the historic city centre of Amsterdam. The property is located on a canal, has its own boat jetty and 17 car parking spaces. The purchase price was not disclosed.
"The building at Weteringschans meets very good conditions in a market with a vacancy rate for office space of less than 5%," said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. "We are happy to assist HighBrook Investors with this project, further expanding the share of our real estate portfolio in neighbouring European countries."