Frankfurt-based Deka Immobilien has acquired office tower “The Rock” in Amsterdam Zuidas for €132m from UK investment banking and private equity group Evans Randall.
The building was acquired for Deka’s open-ended mutual property fund WestInvest InterSelect, which has also bought Kings Place in London’s Kings Cross for £235m, as announced yesterday.
The Rock was completed in 2009 and has 30,000 m² of office space. International law firm De Brauw Blacktone Westbroek is the main tenant in the fully-leased property. Jones Lang LaSalle and CBRE advised the seller in the transaction.
The acquisition of the office tower brings WestInvest InterSelect’s exposure to the Netherlands from 8.1% to 10.5%. The fund management is looking to decrease the portfolio’s Germany allocation and plans to increase investments into newer assets.
Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds are part of the DekaBank concern managing a fund volume of more than €23bn.
