Real I.S. acquires office building in Amsterdam for “BGV VII Europa”

26 September 2017

Real I.S. has purchased a fully-let office property at Raamplein 1 in Amsterdam for “Real I.S. BGV VII Europa” special real estate AIF. A private investor is the vendor of the centrally located property. The parties agreed not to disclose any details of the purchase price.

The single-tenant property offers almost 3,200 square meters of office space on four storeys, as well as five parking spaces. The Raamplein property enjoys a central location in the city centre with excellent public transport links. Amsterdam's main railway station, with its regional, inter-regional and international connections, is easily accessible via the nearby tram lines.

“Thanks to our outstanding access to the market, we have had the rare opportunity to acquire a high-quality investment property centrally located in the popular Canal District in Amsterdam,” says Jochen Schenk, CEO of Real I.S. AG. “This prestigious old building offers generous and coherent office spaces, which is difficult to find in such a location. Moreover, due to its design, the investment property differs from typical modern office buildings. In addition to the very grand entrance area under vaulted arches, these rental spaces are characterized by generous room heights as well as a special charm thanks to the building’s old structure, combined with modern technology”, explains Schenk.  

The property next to a canal, built in 1905, was originally used as a school. After the acquisition by a private investor in 2013, it was converted into an office building. The outer shell and much of the building’s structure remained intact after the core restoration.

The office and retail real development is the eighth real estate investment by the “BGV VII Europa” fund. Investments are concentrated exclusively on euro area countries, particularly Germany and France, and are supplemented by the Benelux countries, Spain and Ireland. The investment strategy of the special real estate AIF is focused on core and core plus investments and, when appropriate, complemented by properties with a manage-to-core strategy. The aim is to develop a diversified real estate portfolio established on a broad basis in respect of country- and sector-related allocation.

Savills advised Real I.S. during the transaction. 

Raamplein 1 B.V. was advised by Westbroek Commercieel Onroerend Goed Advies (WCOA). Holdinga Matthijssen Kraak Notarissen provided legal advice.

 
 

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