LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired “New Loft” a class A fully let office property from Credit Suisse Asset Management.
New Loft, which was built by the renowned Dutch developer G&S Vastgoed in 2012, is a modern building with an appealing loft-style interior and strong sustainability credentials. It has over 7,700m2 of lettable area across eight floors.
Situated in Amsterdam South East, the Dutch capital’s second largest office district, the property benefits from an efficient transport network, with Bijlmer Arena train station and Strandvliet metro station within walking distance. The train network provides fast and direct links to the city centre, Schiphol airport, the third busiest airport in Europe in terms of passenger volume, and all major cities in the Netherlands.
Amsterdam South East, traditionally a back-office location, is experiencing a growth in demand from the technology, media and financial services sectors. Combined with the limited pipeline and the lack of available quality products, it is having a positive impact on rental values.
Uwe Rempis, Managing Director and Fund Manager at LaSalle Investment Management, said: “The fundamentals in Amsterdam South East are strong and continue to improve, so we are pleased to have increased the LaSalle E-REGI fund’s exposure to this important submarket. Demand is high and the supply is very likely to be limited as the area looks to transform into a mixed-use hub and as a result, we expect the asset to provide solid and stable, long-term returns for our investors.”
Jordy Diepeveen, Head of Acquisitions at Savills in the Netherlands, adds: “Amsterdam Southeast is transitioning from a monotonous office environment, to a new city center with functional blending. The area benefits from the excellent public transport connection and a lively entertainment offering. A high number of new residential developments will be added in the coming years. Additional greenery, a hotel, a new theater and a revised approach to retail will further contribute to the future-proofing and quality of life in this area. We are pleased that we were able to successfully secure this purchase on behalf of our client.”
LaSalle was advised on the sale by Weebers Vastgoed Advocaten N.V. (legal), Savills (commercial buy-side advisory), Drees&Sommer (Technical) and Deloitte (Tax).
Credit Suisse Asset Management was advised by Cushman & Wakefield (commercial advisors) and Osborne Clarke (legal advisors)