Valad Europe, the multi-let real estate investment manager, has sold two office buildings totalling 103,979 sq ft on behalf of an un-named client. Both assets were part of the multi-million pound Dutch Office One portfolio.
The largest property — a five-storey block at Europaweg Eight, Groningen — was sold to the Municipality of Groningen, which is also the 75,691 sq ft asset’s sole occupier. It is located on the main road into the university city.
The second asset, at Nassaukade One, Rijswijk, near The Hague, was sold to De Maese Woningen B.V. which intends to redevelop the vacant 28,000 sq ft property into a residential apartment building.
“We were appointed to asset manage the Dutch Office One portfolio in 2013 with a mandate to protect and grow income whilst looking for opportunities to trade assets in the right market conditions,” explained Mark McLaughlin, Valad Europe’s head of Benelux. “These two sales are in line with our business plans for the assets.”
Vinco Vastgoed advised on the sale of Europaweg 8 and COG Makelaars and Rob Swart advised on the sale of Nassaukade.
Less than a week ago Valad Europe — acting on behalf of its own Valad European Income Fund — renewed the lease on 102,000 sq ft of office and light industrial space at Ravenswade, Nieuwegein, to hospitality industry wholesaler Hanos-ISPC Utrecht B.V.
And in late August Valad Europe paid €56.1m (£39.8m) for seven Dutch office assets for its recently launched Valad Netherlands Diversified Partnership (VNDP) fund. All the properties — in Amsterdam, Rotterdam, The Hague, Arnhem, Woerden, Amersfoort and Leeuwarden — were owned by the Netherlands’ Chamber of Commerce, Kamer van Koophandel.
Valad Europe manages €5.3bn (£38bn) of real estate assets and investment capacity across 24 funds and mandates in mainland Europe. In the Benelux region, it controls €550m (£400m) of funds, invested in 85 assets and let to 640 tenants.
