CBRE and Fabrica acquire Amsterdam office as buying spree continues

CBRE Global Investors and Italian asset manager Fabrica have acquired an office building in Amsterdam, the Netherlands.

Financial details were not disclosed.

The purchase was made for the Cicerone fund, with German asset manager Nordcapital selling the property on behalf of its fund, Nordcapital Immobilienfonds Niederlande 7.

Located in the Dutch capital, the Baker McKenzie House comprises 11,000 m2 and is fully leased to the international law firm of the same name.

Owen Clayton, transaction manager at CBRE Global Investors, said: 'This trophy asset has a number of attributes that make it a sound addition to the portfolio. The building is located on one of the best-performing office locations in Europe and is set to improve further. It also offers secure income from a strong covenant.'

Giovanni Maria Benucci, Fabrica CEO, said: 'We’re proud to announce a new deal for Cicerone Holding platform investment, coming just a few days after the iconic Brussels Mondrian Building acquisition.

'The operation is consistent with Cassa Forense’s investment strategy, focused on trophy assets in major European cities. The share of international asset allocation for Cicerone Fund reached 45%, in line with the investor’s geographic diversification needs.'

The acquisition is the seventh by the venture, following its acquisition of the European Commisson’s headquarters in Brussels, Belgium, last week.

Nordcapital Group were advised in the deal by New NRG.

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