05 October 2017
Amsterdam
Reporter: Theo Andrew

Commerz sells another Dutch office for €51.6 million


Commerz Real has sold Arena Toren B, an office asset in Amsterdam, to an institutional investor, for €51.6 million.

The 19,679-square metre, 19-storey property, owned by Commerz since 2002, was recently valued at €49.3 million.

It is located in the Amsterdam-Zuidoost district and is currently let to ING Bank.

This is the firm’s third disposal in the Netherlands in recent months, following the sale of TenThirty in Amstelveen and, in June, the sale of Blaak 31 in Rotterdam to an institutional investor for €75.6 million.

Mario Schüttauf, fund manager for hausInvest, said: “During the entire period the fund has held the property, it has been possible to attain very good results.”

CBRE and PwC advised Commerz Real on the deal.

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Standard Chartered boosts CRE team
11 December 2017 | Singapore | Reporter: Stephanie Palmer
Standard Chartered has named Steven Cranwell as global head of commercial real estate for its global banking business
SoftBank and Compass in ‘largest ever’ US real estate tech investment
08 December 2017 | New York | Reporter: Stephanie Palmer
Real estate technology firm Compass has won $450 million in investment from the SoftBank Vision Fund, in what Compass has called the largest ever real estate technology investment deal in US history
Tristan fund makes first foray into Germany
07 December 2017 | Bonn | Reporter: Stephanie Palmer
The CCP 5 long-life fund, a core-plus fund advised by Tristan Capital Partners, has made its first investment in Germany, acquiring an office complex in Bonn for €35 million
JLL develops UK corporate solutions team
07 December 2017 | London | Reporter: Stephanie Palmer
JLL has named Sue Asprey Price as lead director of its corporate solutions business in the UK, with immediate effect
Link Asset Services appointed as real estate fund administrator
06 December 2017 | London | Reporter: Stephanie Palmer
Warehouse REIT, a specialist warehouse investor managed by Tilstone Partners, has selected Link Asset Services for fund administration
Dutch portfolio sold for €200 million
05 December 2017 | Amsterdam | Reporter: Stephanie Palmer
Patrizia Immobilien AG has sold a portfolio of 61 residential properties in the Netherlands, for around €200 million
Allianz tops off bumper 2017 with Broadway acquisition
04 December 2017 | New York | Reporter: Stephanie Palmer
Allianz Real Estate has acquired a 43 percent stake in 1515 Broadway, New York, a class-A building valued at $1.95 billion