pbb and ING have provided €150m in equal shares to Hana Financial Investment and NH Investment & Securities, Korean Investors, for the acquisition of an office property in the Amsterdam business park Sloterdijk.
The office building, which was built in the 1970s, is currently being completely renovated and redesigned as part of a redevelopment project. The completion of the main building, which provides 47,700m² of rental space, is scheduled for the first quarter of 2021. The adjacent building with 5,500m² is expected to be completed by mid-2022. The property is nearly 80% leased by long-term tenants. The largest tenant is the gas and electricity network operator Alliander, followed by the APG Group and Intertrust Netherlands.
Norbert Muller, Head of Real Estate Finance Continental Europe West said: “Tenant demands and rents have developed very strongly in this Amsterdam growing submarket in recent years. We are happy to support, alongside ING, the investors in this transaction to acquire a technologically pioneering and environmentally friendly building".