La Fran莽aise Real Estate Partners has acquired the 9,950 m2 Hollandia office building in Amsterdam from Real IS for around 鈧�60.5 mln.
Situated at Oosterdoksstraat 114, in the eastern area of the Port of Amsterdam, the ground floor and the eleven upper floors are let to navigation system specialist TomTom International in a single tenant structure. The office property was only recently refurbished and awarded an A energy label.
'An ultra modern and architecturally pleasing office building in a very good location provides an excellent basis for a long-term lease. The renewal of the Dutch company鈥檚 contract in the spring reflects the high level of tenant satisfaction,' commented Georg Jewgrafow, CEO of Real IS.
The property was purchased in 2011 for the Bayerische Grundverm枚gen IV (BGV IV) fund, a special real estate alternative investment fund (AIF) which invests on behalf of institutional investors in Core/Core+ office and retail properties in Germany, France and the Benelux countries.
According to Savills, who advised Real I.S., investment in Dutch commercial property rose 19% to 鈧�5.7 bn in the third quarter of 2016.
Jewgrafow added: 'We achieve good results for our investors through the high quality of the investments in BGV IV and the dynamic market trend.'
Real IS' legal advisors were Loyens & Loeff Amsterdam.
