A Dutch office portfolio, known as Project Bishop, has been sold by a combination of multiple sellers to Harbert Management Corporation, as an advisor to Harbert European Real Estate Fund V LP, a pan European real estate fund manager. Project Bishop consists of three separate portfolios (Queen, Rook and Knight) that comprise a total of 12 assets predominately located in the Randstad area in the Netherlands. In total, the portfolios cover a total lettable floor area of 69,000m² and benefit from an occupancy rate of 81%. The combined portfolio offers an excellent combination of secured income and value-add potential. The purchase price was not disclosed.
Jordy Diepeveen, Head of Acquisitions at Savills in the Netherlands, said: “We still see an increasing interest from foreign investors in the Dutch real estate market. This transaction shows that our strong international Savills network allows us to successfully guide new entrants into the Dutch market.”
