Aviva Investors has acquired a portfolio of eight office assets in Amsterdam from CCP 5 Amstel Holdings.
The acquisition of the so-called Vondel Portfolio, close to Amsterdam’s Zuidas or South Axis district, follows Aviva’s March purchase of the FOZ building, a sustainable building located within the Zuidas district.
The Vondel Portfolio’s eight multi-let properties have a total of nearly 19,000 sq m.
“This particular portfolio of assets has high tenancy rates in a market which has seen rents strengthen substantially in recent years, whilst still offering attractive yields,” Aviva Investors fund manager George Fraser-Harding said.
“We think this can provide excellent sector diversification and security of income, with the potential to deliver long-term performance benefits.”
Aviva Investors was advised by DLA Piper. NL Asset Management responsible for the ongoing management of the Vondel Portfolio on behalf of Aviva Investors. CCP 5 Amstel Holdings was advised by Greenberg Traurig and NL Real Estate Knight Frank.
The 12,700 sq m FOZ building is located within the South Axis district and was acquired as part of Aviva Investors’ climate transition. The building is currently multi-let to a number of tenants, including Simmons & Simmons, Snowflake and Coolblue.