INTERNOS Global Investors Limited (“INTERNOS”) has sold three office buildings located in Utrecht, De Bilt and The Hague to Beryllus Gamma, a fund owned by Reshape Properties and Atlas Invest. INTERNOS currently has €3.6 bn of assets under management.
The three locations will be converted to residential use and developed into approximately 240 residential units to meet the growing demand for housing in the Netherlands. The property located in The Hague will be developed into four blocks totalling 130 units, the location in Utrecht will be turned into two blocks with 100 units and the property in Bilt used to develop 10 semi-detached houses.
Daan Schuurman, head of asset management for INTERNOS in BENELUX, said: “We were appointed to manage the Dutch Active Fund with a clear remit to create and maintain value on behalf of investors ahead of managing an orderly disposal of assets. The sale of these three office assets for residential use reflects the changing dynamics of the property market in the Netherlands and the growing demand and interest from investors in the residential sector.”
Allan & Overy represented INTERNOS and BarentKrans represented Reshape in the transaction. For the Hague transaction, INTERNOS was represented by Local.
Source: IINTERNOS
