La Fran莽aise Real Estate Partners International has for the first time invested in the Netherlands on behalf of its collective investment vehicles.
The Paris-headquartered fund manager has acquired the Hollandia office building in Amsterdam for its Soci茅t茅s civiles de placement immobilier (SCPI) business.
The sustainable building is located in Oosterdokseiland, a major inner-city development project, with 9,950sqm of lettable space across 12 floors. It is let to a single tenant, TomTom International.
Jens Goettler, managing director for Germany at Real Estate Partners International, said: 鈥淭his is our first acquisition in the Netherlands on behalf of La Fran莽aise鈥檚 collective real estate investment vehicles.
鈥淚ts central location which will benefit from the opening of a metro stop in 2018, and flexible floor plan are certain to attract and retain quality tenants.
鈥淭his acquisition fits perfectly with our strategy of investing in dynamic inner-city locations.鈥�
The building was sold by Real IS, a German fund manager that announced on the same day that it had bought an office building in Paris.
Real IS purchased Faubourg St. Martin, a fully-let office property, from Europe for its BGV VI real estate fund.
French fund manager sold the 5,560sqm building on behalf of its Europe Value Investors Fund, which pursues a strategy of improving assets to sell onto core buyers.
