Fund manager Patrizia Gewerbeinvest KAG has acquired the municipal office in the southern Dutch city of Eindhoven for EUR 30 mln. The vendor is privately owned asset manager Solidiam.

The building comprises 11,100 m2 of office space and 270 parking places, and is occupied on a long lease by the city's municipal authorities.

Patrizia Gewerbeinvest, part of German listed property company Patrizia, bought the asset for its fund, LB Buro-Invest Europa I.

Hiensch Engineering and Interim Bouwconsult have been hired to renovate the property to improve its sustainability profile. The aim is to improve its energy label from G to C.

Solidiam was advised in the sale by broker Appelhoven Vastgoedadviseurs and law firm Baker & McKenzie.

Patrizia was assisted by property broker 3stone Real Estate, law firm CMS Derks Star Busmann and technical adviser CVO International.