La Fran莽aise Real Estate Partners International has bought an office building in Amsterdam for an undisclosed sum.
The French asset manager said it acquired the 5-storey office building on behalf of a La Fran莽aise collective real estate investment vehicle.
The building, which was refurbished in 2013, offers 2,731msq of lettable space and is fully leased.
Jens Goettler, the managing director for Germany, La Fran莽aise Real Estate Partners International, said: 鈥淭his is our second acquisition in the Netherlands.鈥�
The limited supply of modern office space in Amsterdam combined with the current high demand should contribute favourably to the valuation of the property and to rental levels, Goettler said.
鈥淲e continue to look for investment opportunities of similar quality and type.鈥�
In December 2016, La Fran莽aise made its first investment in the Netherlands on behalf of its collective investment vehicles. It acquired the Hollandia office building in Amsterdam for its Soci茅t茅s civiles de placement immobilier (SCPI) business.
