PATRIZIA sells office building in Amsterdam
Strategic sale delivers attractive returns for investors and is in line with business plan
- Aqua Plaza has a lettable floor area of nearly 8,100 sq m
- 80% of asset is let to Bugaboo International B.V. for its global headquarters
Augsburg/Amsterdam, 5 September 2019. PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of an office property in Amsterdam, The Netherlands, for EUR 20.35 million. The asset has been sold to Trinity Vastgoed VI, which is managed by Attestor Capital LLP.
Aqua Plaza, located in south east Amsterdam, has been managed by PATRIZIA since its construction in 2003 and has a gross lettable area of nearly 8,100 sq m with 98 parking spaces. The building is 80% let to Bugaboo International B.V. for its global headquarters.
Emile Poort, Head of Transactions Management Benelux at PATRIZIA, commented: “This disposal is in line with our strategy of focusing on inner city locations and core CBDs. Amsterdam Zuidoost, where Aqua Plaza is located, is currently undergoing an exciting transformation to include a mixture of residential, leisure and office space, which is line with the latest urban trends across other major European cities. Rents in the region are at all-time highs, whilst vacancy rates are at record lows, which has enabled us to deliver attractive returns to our investors with the sale of this asset.”
PATRIZIA was advised by Colliers International and CMS Law. Trinity Vastgoed VI was advised by DutchRE and Allen & Overy.
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages more than EUR 41 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.
Head of Corporate Communications
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