Cording expands Benelux fund with Amsterdam office deal

Cording Real Estate Group, the Northern European real estate investment and asset management firm, has acquired a 3,300 m2 office building in the centre of Amsterdam as an addition to its Benelux Commercial Real Estate Fund.

Financial details were not disclosed.

Located adjacent to Dam Square, the property at Nieuwezijds Voorburgwal 162-170 was purchased from a private investor and is occupied by Mindspace, the international co-working space provider.

The five-storey property was originally constructed in 1888.

René de Heus, head of Investment Benelux at Cording Real Estate Group, said: 'By investing in the best locations within the Benelux we continue to build a sustainable and future-proof portfolio. Despite the strong competition, this transaction demonstrates the capability of our local team to identify the right assets. Furthermore, this transaction again emphasises the strong transaction security Cording provides for vendors.'

The Benelux Commercial Real Estate Fund was launched in December 2016 to invest in office and retail property in the Netherlands, Belgium and Luxembourg. The fund’s focus is on properties with diversified cash flows located in economically strong cities. The fund has a gross target volume of €400 mln that includes €250 mln of equity.

Cording was advised by Cushman & Wakefield, Van Doorne provided legal and tax advice. Malcolm Hollis provided technical support.


Latest news

Best read stories