Cording Real Estate Group has acquired an additional office property in Amsterdam for its Benelux Commercial Real Estate Fund. The vendor, made up of several investors, held the property in partial ownership. The purchase price has not been disclosed.
The property, at 22 Keizersgracht, is the headquarters of the Dutch youth fashion label Scotch & Soda. It provides around 1,650 m² of office space, which is fully let to the company. Built in 1837, the property was previously a Catholic church until 1928. Due to the nature of its former use as a church, the property offers a unique working environment with large, open-plan office floors.
René de Heus, Director of Investment Benelux at Cording, comments: "We are delighted with the purchase of our latest office asset. In only a short period of time, we have been able to acquire seven properties. The acquisition of this architecturally-striking office building again demonstrates how successfully our team can operate in a highly-competitive market. We are aiming at a further investment volume of around €150m in 2018”.
Stevens van Dijck acted as technical adviser to the purchaser and legal advice was provided by Van Doorne. Agency firm P van den Bosch provided support to the purchaser and Appelhoven Vastgoedadvies for the vendor.
