MPC Real Estate Services B. V., a company of the MPC Capital Group, will take over the management of 10 Dutch real estate funds from Dutch bank ABN AMRO MeesPierson.
The Hamburg real estate experts will thus increase their real estate assets under management by 350 million to a total of approx. 2.4 billion and expand their current income from asset management.
MPC Capital launched the first MPC Dutch fund in 1995 and is considered the 'Dutch pioneer' in the closed-end funds sector.
The company of the Hamburg-based MPC Capital Group won the mandate to manage nine closed-end and one open-ended real estate funds from ABN AMRO MeesPierson against strong competition.
The funds' real estate portfolio comprises 40 properties with roughly 180 tenants and a total investment volume of 350 million. The funds have remaining terms of between four and nine years.
"The management of the portfolio for ABN AMRO MeesPierson will not only generate additional current income but will also expand our strategic position in the Dutch real estate market," said Dr. Axel Schroeder, CEO of MPC Capital AG.
The Hamburg-based issuing house launched the first 'MPC Sachwert-Rendite Fonds Holland' back in 1995. In 2007, MPC Capital sold 98 properties from 27 Dutch funds to an institutional investor in a package deal with what was, at the time, an unprecedented volume of approx. 978 million for its investors. The latest fund, MPC Holland 72, was successfully placed in 2011
Source: MPC Capital