Dutch private investor sells prime office complex Piet Hein Buildings in Amsterdam
A Dutch private investor and Hannover Leasing have agreed on the sale of prime office complex Piet Hein Buildings in Amsterdam. The transaction concerns an institutional club deal, with the Finnish mutual pension insurance company Ilmarinen and French insurance company Malakoff as investors. Piet Hein Buildings is currently fully leased to a solid diversified tenant base. The three main tenants are international companies, online travel platform Booking.com is the largest tenant with a lease contract for approximately 13,500 sq m of office space. A purchase price has not been disclosed by the involved parties. Piet Hein Buildings is a contemporary office complex in central Amsterdam, consisting of three interconnected office buildings, each with a dedicated separate entrance and reception area.
The complex comprises a total lettable floor area of approx. 32,000 sq m and a two story underground car park offering space to 366 cars. The property benefits from a waterfront situation directly along the quay of the IJ river and includes a passenger terminal for large cruise ships.
All tenants have access to an in-house restaurant on the ground floor, including separate meeting rooms available for a more secluded setting. The property is surrounded by restaurants and bars, cultural hot spots, and many other international corporations, all at walking distance from Amsterdam Central Station.
The strong appeal of Amsterdam to national and international employers such as Booking.com and Teva Pharmaceuticals, combined with the scarcity of investment opportunities of such volume and quality, created a very compelling proposition for Piet Hein Buildings.
Hannover Leasing was advised by JLL and Loyens & Loeff. CBRE acted on behalf of the seller, in cooperation with NL Real Estate. Nauta Dutilh provided legal advice.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.