EXCLUSIVE: TPG Real Estate tipped to buy Heerema global HQ

Real estate investment platform TPG Real Estate (TREP) is understood to be in exclusive talks with 90 North Real Estate for the global headquarters of Heerema Marine Contractors, a marine contractor in the international offshore oil and gas industry.

Designed to a BREEAM 'Excellent' standard, the 20,616 m2 office building is located in the Central Business District of Leiden in the Netherlands, close to the city's train station and with motorway access.

90 North Real Estate, a London-based firm, bought the office building in 2016 for Dubai-based Arzan Wealth at a guide price of £54 mln (€70 mln) from a fund managed by Standard Life Investments.

Arzan Wealth is the Dubai arm of Kuwait-headquartered financial services firm Arzan Financial Group, incorporated in March 2013. In February 2021, an Arzan Wealth and Equity Estate joint venture bought the RTL office building in Hilversum, the Netherlands.

Last month, PropertyEU reported that TREP sold the UK science, innovation, and technology real estate platform Arlington to Brookfield for £741 mln (€835 mln).

The Leiden property is on a long lease with annual 100% CPI indexation of rent to Heerema Marine Contractors. It was leased for a term of 20 years in 2015. The building offers 10 floors of multi-functional office space and 589 car park spaces.

Leiden is the fourth largest city in the south of the Netherlands and is located between The Hague and Amsterdam-Schiphol. It is famous for the Bio-Science Park.

Cushman & Wakefield is advising TPG Real Estate.


Photo by Vysotsky


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