Aviva Investors acquires office building in Amsterdam’s canal belt
Aviva Investors Real Estate France, a subsidiary of Aviva France, has completed the acquisition of the Weesperstraat 420-446 office building, in the center of Amsterdam on behalf of one of its clients. The asset was sold by LaSalle Investment Management on behalf of a separate account client.
The property, an iconic nine-story office building, offers approximately 7,400m² of functional office space, which has recently undergone extensive renovations, including upgrades to improve its overall sustainability benchmarks. and its energy saving qualities. Since 1993 the property has been fully leased to the municipality of Amsterdam on a long term basis.
Located in Amsterdam’s famous canal belt, Weesperstraat 420-446 offers access to a wide variety of facilities and attractions, including the city’s shopping areas, restaurants and museums. Thanks to its central location, the building also benefits from a number of well-established transport links, with Amsterdam’s metro, tram and bus networks all nearby, as well as the A10 ring road, making it a very accessible location. .
Grégoire Bailly-Salins, Head of Transactions Europe at Aviva Investors Real Estate France comments: “We are delighted to expand our presence on the Amsterdam market and secure an asset in such an emblematic district of the city on behalf of our customer. We believe the city will continue to be one of Europe’s best performing office markets in the long term, thanks to its solid location, accessibility and talent pool.
Uwe Rempis, Managing Director of LaSalle KVG, comments: “We are delighted with the successful sale of Weesperstraat 420-446. The asset has experienced exceptional performance since its acquisition, which follows targeted investments made by LaSalle and the tenant over several years aimed at modernizing the building and improving its energy efficiency and the quality of the amenities offered. The sale comes at a strategically favorable time for the Fund and is one of the highlights of this financial year. “
Aviva Investors has been advised by JLL, CMS and SGS Search. LaSalle was advised on the transaction by Cushman & Wakefield, Drees & Sommer and Solid Attorneys.