The German investor KanAm has acquired a 27,000 m² office tower in the city center of Rotterdam from CGI. Fortis is the sole lease holder of this office tower. Analysts estimate that an amount of approximately € 78 million was involved in the acquisition, with a gross initial profit of 7%.
The office tower was developed in 1996 by the legal predecessor of Fortis Bank, who sold the tower to CGI while maintaining a long term lease. The building consists of more than 27,000 m² of office space, spread over the ground floor, 28 floors and a parking garage. The building was designed by renowned architect Helmut Jahn.
The Fortis Tower is KanAm’s first investment in the Netherlands. Previously KanAm was an active real estate investor for German clients in Canada and the United States. The investor has just recently entered the European real estate market.
Van Gool & Partners Vastgoedspecialisten advised CGI during this acquisition; Joseph Elburg Makelaars was advisor to KanAm.