Warburg-HIH Invest sells single tenant office property in Amsterdam, the Netherlands to an Amundi fund. The capital return amounts to 200%. The property is located on Admiraal de Ruyterkade 154 and is owned by the fund managed by Amundi Real Estate, a real estate subsidiary of the Amundi Group.
In February 2013, the Warburg-HI Invest acquired the property for a professional pension fund at a purchase price of €29.4m.
"With the strategic sale of the property, we have achieved a cash return of 200% for the pension fund in a period of just four years" said Andreas Schultz, Managing Director Transaction Management International at Warburg HIH Invest Real Estate.
Since its completion in 2007, TomTom, the navigation system specialist uses the office building as its headquarters, with a total rentable area of approximately 7,300m2 and 32 parking spaces. TomTom had already extended the tenancy agreement for another five years in 2016, which runs until at least mid-2023.
Warburg-HIH was supported in this transaction by the Cording Real Estate Group, Amsterdam, and legally advised by the law firm Houthoff Buruma. Amundi Real Estate was represented in the transaction of L'Etoile Properties and is legally advised by Greenberg Traurig LLP. The technical consultancy took over Royal Haskoning DHV. DRS Makelaars was the broker.
