Singapore-listed First Sponsor Group Ltd, along with some private investors, has acquired a commercial property in Amsterdam. First Sponsor said it is partnering with three other parties, including a subsidiary of Tecity Group, to acquire a commercial property in Amsterdam for 51.5 million euros (US$57 million).
The developer bought Zuiderhof I from AEW Europe, says real estate investment firm CBRE, adviser to AEW in the deal.
Zuiderhof I, located in the South Axis, Amsterdam’s central business district, has approximately 12,500 sq. m. of office space and 111 parking spaces. The office building is fully let to Van Doorne B.V., a well-established Dutch legal firm.
Zuiderhof 1 is the first direct acquisition by an Asian investor into commercial real estate in the Netherlands. The interest of Asian investors in Dutch real estate is growing, with increasing numbers expressing a desire to buy offices, shopping centers and residential property, says CBRE.
It is expected that more Asian investors will follow First Sponsor Group’s lead.
CBRE, JLL and Greenberg Traurig were advisers to AEW in the deal. First Sponsor was advised by DTZ Zadelhoff and Loyens & Loeff.
