On behalf of Union Investment Real Estate GmbH, international real estate advisor Savills Property Management has successfully closed the sale of De Monarch I in The Hague, the Netherlands to AMUNDI Real Estate for an undisclosed sum. AMUNDI notably also recently bought the largest single asset in Rotterdam.
De Monarch I is located in the heart of the Beatrix quarter, The Hague’s Central Business District and has been re-designed by KCAP. The building comprises 17,000m² of office space and 180 parking places. It was redeveloped in 2012 to a class-A grade office building with a BREAAM-NL Excellent score for its semi-public tenant CAK.
Reinier Wegman, Head of Sales for Savills Investment in Amsterdam, comments, “Following its purchase of De Rotterdam earlier this year, the sale of De Monarch I demonstrates Amundi’s keen interest in the Netherlands’ commercial property market. We expect an active six months to year end with further large portfolio, and single asset sales across all sectors.”
Savills Property Management will continue to manage De Monarch I after the sale.
