First Sponsor Group buys Zuiderhof I in Amsterdam from AEW Europe
First Asian Institution to Invest Directly into Dutch Commercial Real Estate
First Sponsor Group Limited, an institutional investor from Singapore, along with multiple Singaporean private investors, has acquired Zuiderhof I from AEW Europe.
Zuiderhof I is located in the South Axis, Amsterdam’s central business district. With the acquisition of this office building, First Sponsor Group Limited, which is listed on the Singapore Stock Exchange, obtains approximately 12,500 sq m of office space and 111 parking spaces. The office building is fully let to Van Doorne B.V., a well established Dutch legal firm.
Zuiderhof 1 is the first direct acquisition by an Asian investor into commercial real estate in the Netherlands. The interest of Asian investors in Dutch real estate is growing, with increasing numbers expressing a desire to buy offices, shopping centers and residential property. It is expected that more Asian investors will follow First Sponsor Group’s lead.
AEW Europe was advised by CBRE, JLL and Greenberg Traurig. First Sponsor Group Limited was advised by DTZ Zadelhoff and Loyens & Loeff.
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.