With a full refurbishment completed in July 2017, The Warehouse is located at Nieuwevaart 5, a few minutes walk from Amsterdam's Central Station. The glass-fronted, five-storey property offers a rentable floor area of 6,324 m2 as well as 41 parking spaces. The building is fully let to Oracle Nederland.

TH Real Estate bought the asset on behalf of its European Cities Fund. The fund targets income-producing properties in ‘future-proof’ cities across Europe.
 
'Amsterdam is a millennial magnet as one of the youngest cities in Europe with an old-age dependency ratio of just 20%,' commented Liz Sworn, co-fund manager of the European Cities Fund at TH Real Estate. 'Amsterdam is one of the more liquid of the non-gateway office centres and benefits from relatively low volatility. The city offers good performance diversification with London, Paris and Berlin which should prove beneficial as the Fund expands its office portfolio in the future.'

The transaction is the latest in a series of significant real estate investments in the Netherlands. PropertyNL, the sister publication of PropertyEU, has forecast that the full-year volume for 2017 may reach as high as €19 bn, a huge jump on the record €12 bn of trading in 2016.
 
TH Real Estate was advised by Knight Frank/NL Real Estate and Loyens & Loeff. NL Real Estate has been appointed as the asset manager. Cushman & Wakefield and Osborne Clarke represented Angelo Gordon and APF International. 
 
The Warehouse will be the sixth standing asset in the fund, joining a portfolio including the Kamppi shopping centre in Helsinki, Finland and Meraville Retail Park in Bologna, Italy.

The acquisition of The Warehouse follows the recent announcement from TH Real Estate of the additional €422 mln raised for the Fund, from five international investors.

Comprising investors from Germany, Austria, The Netherlands, Italy, Ireland, the US and Australia, the Fund has raised €1 bn in equity to date.

Owned by US financial services group Tiaa-Cref, TH Real Estate is ownedone of the largest real estate investment managers in the world. It has $107 bn (€91 bn) of assets under management (AUM) worldwide.

TH Real Estate is ranked in 16th place in PropertyEU's Top100 Investors ranking based on European real estate AUM at end-2016. The European business, based around the takeover of Henderson Global Investors' property arm, had €92.5 bn of assets in Europe last year, up from €83.9 bn in 2015.   

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6 December 2017
Amsterdam
09:00 - 11:30

Outlook 2018: Europe & the Netherlands Real Estate Investment Briefing

Come to this time-efficient morning briefing for the latest news and analysis on the booming real estate market in the Netherlands. Hear from a panel of experts and meet key players active in Dutch real estate. 

Attendance is free but places are strictly limited. Please register now to guarantee your place