International investment manager BlackRock Real Assets has purchased an office building in the city centre of Amsterdam, the Netherlands.
Financial details were not disclosed.
Located in Huidekoperstraat 26 – 28 on the edge of the city´s canal district, the asset comprises 5,700 m2 across five floors, with 1,000 m2 of open-plan floor-plates.
BlackRock acquired the property for its BlackRock Eurozone Core Property Fund, bringing the portfolio up to four assets.
The vendor in the transaction was Bridges Real Estate.
Ian Williamson, portfolio manager of the BlackRock fund said: ‘We are delighted to have successfully secured a rare building in the heart of Amsterdam in an off-market transaction from Bridges Real Estate.
‘The recent refurbishment was performed to a very high standard, and this investment is a fantastic addition to our growing portfolio and provides the fund with exposure to the expanding Dutch economy and particularly, the Amsterdam office market.’
BlackRock was advised in the deal by NL Real Estate, Knight Frank, Clifford Chance, Drees En Sommer and PwC. Bridges was advised by Cushman & Wakefield, Dentons Boekel, PwC and CVO.