CBRE Global Investors acquires iconic office building "Herenstaete" in Amsterdam from Angelo Gordon and APF International

CBRE Global Investors has acquired Herenstaete, Amsterdam from a joint venture between Angelo Gordon and APF International. The c. 6,000 sq. m. building is located on the Herengracht 206-216 and is part of the UNESCO World Heritage Site.

Herenstaete, located in the historic centre of Amsterdam, is a national monument and dates back to 1616. Currently the building is under-going a complete renovation designed by Cruz y Ortiz, who also renovated the Rijksmuseum in Amsterdam. The monumental features and spaces of the iconic building are being preserved, whilst creating a modern, high-quality and sustainable office space, including a large atrium. Delivery is expected in the first quarter of 2022 and leasing activities will begin shortly.

Wiggert Karreman, APF International: "We are delighted to contribute to the preservation of this national monument. At the time of acquisition, the building was 10% leased and very outdated. Once delivered this building will be a high-quality national monument with full climate control. This property and location have proven their value since 1616 and will continue to do so."

Owen Clayton, Transactions Manager Netherlands, CBRE Global Investors said: "This building meets the fund’s strategy of acquiring office buildings in ‘Winning Cities” at proven locations. It brings to the market a very high-quality office space in a monumental building at one of the best locations in Amsterdam."

Vendors Angelo Gordon and APF International were advised by CBRE in this transaction.