New York-based investment fund Highbrook Investors and local developer REB Projects have inked their fifth Amsterdam deal in the last 60 days, acquiring a former warehouse property in an off-market transaction.
Financial details were not disclosed.
The asset, at Looiersgracht 43, is located on the southside of the Amsterdam Jordaan. It is situated adjacent to several warehouses dating from 1899. In the second half of the previous century, the third, top floor was added.
The duo has been expanding rapidly in the city in recent months. In addition to Looiersgracht 43, Highbrook and REB Projects announced the acquisition of Westermarkt 2, Keizersgracht 159 -167, Herengracht 433 and Herengracht 134 -140.
The partners said they were looking to upgrade the Looiersgracht property to modern office space with high ceilings. The property includes an elevator and three parking spaces.
Amsterdam-based REB Projects is a property developer specialised in modernising existing, often historic buildings and new-build homes.
During the acquisition, Loyens Loeff offered legal advice, while Savills was appointed technical advisor.