Amsterdam,
15
January
2020
|
14:37
Europe/Amsterdam

Tristan Fund acquires Rotterdam’s The Core

The Core in Rotterdam is a prominent mixed-use building, located in the city’s central business district. Built in 1968, part of the building has been renovated in 2019. The ground floor consists of commercial space, the other floors host office and 478 indoor parking places. The asset measures 16,940 sq. m. and is let to, amongst others, Q-Park, Office for Metropolitan Architecture (OMA) and VodafoneZiggo. The Core is occupied for circa 80% with a strong reversionary potential and offers a favorable potential to lease up the remaining vacancy.

Jeroen Rothuijsen, Director Investment Properties at CBRE Netherlands: “We would like to congratulate Tristan with the acquisition of the Core. This transaction once again demonstrates the strong performing investment market in Rotterdam as a result of the flourishing occupier market fundamentals and also indicates the potential that Rotterdam has to offer in the foreseeable future.”

Tristan was commercially and legally advised by Nexus and Loyens & Loeff. The technical and fiscal consultancy was handled by Stevens van Dijck and PwC. The seller was assisted by CBRE, Clifford Chance and EY.

About CBRE

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.