Despite the ongoing difficult situation affecting the real estate markets, IVG has started the new year by reporting strong letting success once again. IVG Institutional Funds has concluded three major letting agreements in the Netherlands.
One of the agreements relates to the new letting of a former office building (Orly Plaza) with a rental area of 8,198 m², which has been converted into a hotel and is operated by Holiday Inn. The building is located at Orlyplein, near Amsterdam Sloterdijk station. The letting has a term of 25 years.
Near the medical faculty (Paasheuvelweg 33) in Amsterdam, an office building with a rental area of 2,067 m² has been newly let to a service provider in the sport and recreation sector for an initial term of 10 years. The third transaction is the prolongation of a letting agreement in Houten, 50 km from Amsterdam in the vicinity of Utrecht. The user, an American pharmaceuticals company, has prolongated the letting on the 2,315 m² of office space for a further five years.
Source: IVG Immobilien AG