Breevast buys major real estate portfolio from MPC

Dutch company Breevast has reached agreement with Germany's MPC Münchmeyer Petersen Capital on the purchase of a huge office portfolio in the Netherlands. The transaction involves 99 office buildings with a total floor space of 530,000 m[sup]2[/sup] and 500 tenants located across the Netherlands. The properties come from 27 MPC funds. MPC announced the intention to sell the portfolio in August and the transaction was conducted through a closed tender that involved 15 parties. The financial details were not disclosed but market watchers estimated the price tag at EUR 1 bn. Trimp & Van Tartwijk Property Consultants advised Breevast on the purchase and CB Richard Ellis acted for MPC. It is expected the transaction will be concluded by the end of the year.

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