Valad Europe has acquired a portfolio of offices for €56.1 mln from Kamer van Koophandel, the Netherlands’ Chamber of Commerce organisation, for the Valad Netherlands Diversified Partnership (VNDP).
The portfolio comprises seven office buildings in Amsterdam (Ruyterkade 5), Rotterdam (Blaak 40), The Hague (Koningskade 30), Arnhem (Kronenburgsingek 525), Woerden (Water Molenlaan 1), Amersfoort (Printerweg 6) and Leeuwarden (Heliconweg 62). In total, the portfolio comprises 35,854 m² and 340 car parking spaces. It is predominantly let to Kamer van Koophandel through a partial sale and leaseback arrangement.
Mark McLaughlin, Valad Europe’s Head of Benelux, commented: “This sale and leaseback transaction provided an excellent opportunity to purchase a portfolio of seven high quality assets from the original portfolio of ten assets. The locations work well together as a portfolio, providing geographic diversity, backed by long leases, to an occupier with a strong covenant. This is exactly the type of investments we are targeting for VNDP.”
Valad Europe launched VNDP with an initial target gross asset value of €500 mln to invest in Core Plus/Value Add office, industrial, logistics and out-of-town retail assets in the Netherlands. The fund targets good quality, well located single assets and portfolios, primarily in lot sizes ranging from €10 to €100 mln. The purchase is the second major acquisition for the Fund since it launched earlier this year.
Source: Valad Europe
