Lone Star acquires office property INIT in Amsterdam
Lone Star Funds has acquired office building INIT in the city centre of Amsterdam. Main tenant is media company de Persgroep known as publisher of Dutch newspapers like de Volkskrant, Trouw and Het Parool.
INIT is a multi-tenant business building of approximately 34,000 sq m commercial space (mostly open-plan units), qualitative internal finishing, as well as 170 indoor parking spaces divided. The building has a restaurant, a manned reception desk and an auditorium.
INIT is located on one of the cities islands called ‘Oostenburgereiland’ in the eastern part of the centre of Amsterdam. The proximity to the vibrant city centre, public facilities and amenities and the multifunctional character of the surrounding, make the building attractive for a wide range of tenants.
CBRE acted on behalf of the seller. CMS Derks Star Busmann N.V was responsible for the legal advice. DTZ Zadelhoff, BNP Paribas and Boag acted on behalf of Lone Star Funds. Loyens & Loeff was responsible for the 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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.