Union Investment acquires Marine Offices in Amsterdam for institutional fund (NL)

Union Investment has acquired the Marina Offices property in Amsterdam for one of its institutional real estate funds. The vendor is Dutch project developer ASR real estate development N.V. The parties agreed not to disclose details of the purchase price.

The nine-story multi-tenant office building enjoys a central location in the Westerdokeiland quarter (IJ Dock), which is the site of the new Palace of Justice. Completed in December 2012, the building offers some 4,764 m² of rental space. The occupancy rate is 71%. The tenants are major law firms attracted by the proximity to the new Palace of Justice.

Source: Union Investment

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