German asset manager Real IS has sold a 27.619 m2 office asset in the Dutch city of The Hague to its main tenant, the government real estate agency.
The parties agreed not to disclose the price, but information filed with the Dutch Land Registry puts the purchase sum at €85 mln.
Real IS, a subsidiary of German bank BayernLB, acquired the Beatrixpark property in 2011 at the launch of its second Dutch fund, said Axel Schulz, the firm’s global head of investment management. ‘Selling the building was in line with our long-term strategy,’ he noted.
The fully leased complex is located on the Wilhelmina van Pruisenweg 52-78 in the Beatrixkwartier in The Hague.
Real IS was advised on the transaction by Loyens & Loeff and Cushman & Wakefield.