Tristan’s EPISO 5 and Timeless buy Dutch office

Tristan Capital Partners’ opportunity fund, EPISO 5, has made its first investment together with Timeless Investments, by acquiring an 18,000 m2 multi-tenant office complex in Amsterdam for €54 mln from Dutch investment manager APF and Lingotto. 

The Kauwgomballenfabriek (KBF) consists of five buildings located in the Omval area of the city, on the eastern side of the Amstel River. A former chewing gum factory and industrial site, which has been transformed into creative multi-tenant offices over the past few years.

The area has now been designated as a mixed office/residential development zone by Amsterdam’s planning authorities. Tristan said that the complex offered multiple development options on site.

'The KBF complex has a solid reputation with an attractive tenant base in a great location. Amsterdam’s strong office and
residential markets also make the KBF acquisition a very attractive prospect for potential further development,' said Ali Otmar, senior partner and deputy head of investments. 'This is the fourth acquisition we have made with Timeless.'

'Our collective ambition is to be part of the envisioned mixed-use development of the Omval area in close cooperation with
the municipality of Amsterdam,' said Tim van Veggel, managing partner of Timeless Investments.

The original Maple Leaf chewing gum factory at the site opened in 1948 and after various mergers and acquisitions closed in 2003. It remained vacant until 2006, when it was acquired and redeveloped into a multi-tenant office complex.

EPISO 5 and Timeless Investments were advised by Appelhoven Vastgoedadviseurs and Houthoff on the acquisition. APF and Lingotto were advised by CBRE and Osborne Clarke.


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