Valad Europe— one of the continent’s biggest real estate investment managers — has sold three assets from the Dutch Omikron Portfolio for €11.5m (£8.4m). It was appointed to manage and maximise the portfolio earlier this year.
Two of the assets are office buildings: Professor E.M. Meijerslaan 5, in Amstelveen a suburb of Amsterdam (pictured), and Stadsring 185-197, in Amersfoort near Utrecht. Towers Watson, an American global professional services firm, has just signed a six-year lease on offices at the Meijerslaan property.
The third asset, on the corner of Slotlaan 24 and Jufferstraat 10-38 in Zeist, east of Utrecht, is a mixed office and residential building.
In January Valad was commissioned to manage the 29-property Omikron Portfolio. The Dutch property package is made up of 25 office buildings, two parking garages, one hotel and one industrial asset. It currently has 125 tenants spread across its 1.25-million sq ft of floorspace.
The majority of buildings are located in Holland’s Randstad, a “megalopolis” that includes four of the largest Dutch cities — Amsterdam, Rotterdam, The Hague and Utrecht — as well Europe’s largest seaport at Rotterdam and one of the continent’s biggest airports at Schiphol, near Amsterdam.
At the time of its appointment Valad’s Benelux head, Mark McLaughlin, said: “We have been appointed with a clear remit to reposition assets and maximise the overall value of the Omikron Portfolio.
“Our team has extensive knowledge and experience in the sub markets where the assets are located and will be focused on retaining existing tenants and introducing new tenants.” He confirmed that Valad would explore redevelopment opportunities where appropriate.
After the latest sale, McLaughlin added: “We are delighted to have secured a purchaser for these three buildings in a relatively short period of time, whilst also having renewed a lease with one of the major occupiers.”
Valad Europe manages €5.3bn (£3.9bn) of real estate assets and investments across 24 European funds and mandates. It has a team of 20 staff in the Benelux region, managing around 85 assets worth €550m (£405m) and providing bases for 640 individual businesses and tenants.
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