Patrizia AG has sold an office property in Amsterdam, The Netherlands, for €20.35m. The asset has been sold to Trinity Vastgoed VI, which is managed by Attestor Capital LLP. Aqua Plaza, located in south-east Amsterdam, has been managed by Patrizia since its construction in 2003 and has a gross lettable area of nearly 8,100m² with 98 parking spaces. The building is 80% let to Bugaboo International for its global headquarters.
Emile Poort, Head of Transactions Management Benelux at Patrizia, commented: “This disposal is in line with our strategy of focusing on inner-city locations and core CBDs. Amsterdam Zuidoost, where Aqua Plaza is located, is currently undergoing an exciting transformation to include a mixture of residential, leisure and office space, which is in line with the latest urban trends across other major European cities. Rents in the region are at all-time highs, whilst vacancy rates are at record lows, which has enabled us to deliver attractive returns to our investors with the sale of this asset.”