US private equity group DW Partners has acquired 36 commercial real estate assets from Dutch bad bank Propertize for 鈧�160 mln.
The portfolio, which consists of four sub-packages, provides a total of 158,000 m2 of space, which equates to a transaction value of 鈧�1,000 per m2.
Belgian private equity group Whitewood is co-investing alongside DW Partners in the deal. Earlier this year the two investors emerged as the buyers of the Brouck猫re Tower in Brussels city centre from Cr茅dit Agricole Corporate and Investment Bank (CACIB).
The Dutch properties were previously owned by De Groene Groep, Delta, Interforce, and Eurocommerce.
About 80% of the portfolio is located in the Randstad conurbation, mostly in the cities of Amsterdam, Utrecht, The Hague and Rotterdam. The portfolio consists mainly of offices, but there is also some retail space and a hotel. Major buildings in the portfolio are the Galgenwaard office complex in Utrecht, Busitel I & III in Amsterdam, the DHL office in Utrecht and the historic former post office on the Spaarneplein in The Hague.
DW Partners LP and Whitewood were advised by PwC on commercial and tax matters, AKD acted as legal advisor. Propertize was advised by Jones Lang LaSalle, Houthoff Buruma acted as legal advisor and Search as technical adviser.
Deutsche Bank is financing the deal alongside another unnamed international bank.
