On behalf of ING Real Estate Office Fund of The Netherlands (REOFN), ING Real Estate Investment Management (ING REIM) has sold a portfolio of 39 office properties (comprising about 209,000 m² of office space) to a consortium of private investors.
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Braingate, Rivium Boulevard 301-319, in Capelle a/d IJssel.
The transaction took place on December 30, 2009. The ING Real Estate Office Fund of the Netherlands (REOFN) was established in March 2008 following the takeover by ING REIM of a larger investment portfolio from Kantorenfonds Nederland (KFN). Properties that did not fit the main ING Dutch Office Fund were placed with REOFN. The REOFN fund would have a term of up to three years.
Earlier in 2009, ING REIM sold the offices of the national statistics agency CBS in The Hague and Heerlen, as well as two other buildings in Rotterdam (Mirage) and Breda (Claudius Prinsen). The divestment of the 39 properties brings the total sales volume by REOFN to about 500 million representing 75% of the fund's overall portfolio.
CB Richard Ellis acted for ING REIM in the transaction, with Nauta Dutilh and KPMG Meijburg respectively providing legal and tax advice. The buyer was represented by Loyens & Loeff (legal and tax), NIBC (financial), Heren2 (technical) and broker Westbroek Commercieel Onroerend Goed Advies.
Source: ING Real Estate Investment Management
Earlier in 2009, ING REIM sold the offices of the national statistics agency CBS in The Hague and Heerlen, as well as two other buildings in Rotterdam (Mirage) and Breda (Claudius Prinsen). The divestment of the 39 properties brings the total sales volume by REOFN to about 500 million representing 75% of the fund's overall portfolio.
CB Richard Ellis acted for ING REIM in the transaction, with Nauta Dutilh and KPMG Meijburg respectively providing legal and tax advice. The buyer was represented by Loyens & Loeff (legal and tax), NIBC (financial), Heren2 (technical) and broker Westbroek Commercieel Onroerend Goed Advies.
Source: ING Real Estate Investment Management
