Rodamco Europe N.V. has sold the office building Plaza Arena in Amsterdam, the Netherlands to Eurocommerce. Rodamco Europe and Eurocommerce had been in talks regarding this transaction for quite some time. The sale of Plaza Arena enables Rodamco Europe to realize net proceeds just over current book value.
The sale is fully in line with Rodamco Europe's disinvestment program in the past few years. The investment strategy of Rodamco Europe is focused on the retail sector in major European cities, particularly on dominant A-rated retail properties.
The office buildings Minerva and Mercurius, developed by Benthem Crouwel Architecten, form the center of the Plaza ArenA development in the Southeast of Amsterdam. Mercurius and Minerva are two nine-story high state-of-the-art office buildings, situated above a spacious parking garage. Since the buildings are joined harmoniously by a bridge building, the total area available for lease is
Source: Rodamco Europe