OVG sells Maas Tower in Rotterdam to SEB (NL)

OVG sells to SEB the Maas Tower which will become the tallest office tower in the Netherlands. The Maas Tower is the biggest most prestigious project entered into by OVG. The tower will comprise 37,500 m2 lettable floor area based over 44 floors and being 165 meters high. The main tenants are Deloitte, AKD Prinsen van Wijmen and Q Park will exploit the parking garage.

Bas van Holten, Managing director at OVG comments: "The Maas Tower is one of our most prestigious developments to date for OVG and is an enormous boost for the dynamic office market in Rotterdam. It highlights the excellent cooperation between the City of Rotterdam, OVG and Deloitte our client. Further, it is the second major deal together with SEB as investor, SEB bought the office project Lotus from OVG comprising 35,000 m² also in Rotterdam."

The Maas Tower (left).

Axel Gies responsible for acquisition at SEB comments: "The Netherlands is an important market for SEB and the purchase highlights our believe in a recovering Dutch market. The quality of the building in combination with the quality of the tenants will be a fine addition to our existing portfolio."

Savills Amsterdam represented SEB the purchaser and Clive Pritchard from Savills comments: "The timing for this purchase by SEB is perfect being in a recovering market enabling rental growth for our client in the medium term. The tower will be one of the most prestigious investments in the Netherlands and is a perfect addition to the SEB portfolio."

Source: OVG

The Maas Tower development will be rounded off in late 2008.

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