AMSTERDAM, 4 Februrary 2016 – CBRE Global Investors, on behalf of the CBRE Dutch Office Fund has acquired the high quality office building ‘NoMA House’ in Amsterdam from the combined development company: SAX Vastgoed: Maarsen Groep and Beheer Brouwershof. The office building is located at the Amsterdam South Axis, the main office location of Amsterdam.
NoMA House is a turnkey development of 12,892 sqm office space, 625 sqm retail spaceand 68 underground parking places. The building is 11 storeys high and is located on a prominent location at the South Axis, on the corner of Gustav Mahlerlaan and Parnassusweg, with great accessibility by car and public transport.
The construction will start on 1 December 2015 and the scheduled delivery date is October 2017. Once delivered, the building will be a high quality, multi-tenant office building which is tailored to todays’ tenant requirements such as the ‘new world of working’. In addition the design and the construction of NoMA House is based on the BREEAM Excellent standard, ensuring excellent performance in the area of sustainability.
The South-axis area is the most prominent Dutch office location which has an international tenant profile. The area offers high quality and sustainable assets in a live/work/play area and has excellent accessibility both to and from the city of Amsterdam and the international airport of Schiphol. The area is already home to a great number of international headquarters and recently attracted or relocated several new headquarters for example Akzo, Deloitte, Chanel, Stibbe and Multi Corporation.
Frederique Weber, Fund Manager of the CBRE Dutch Office Fund, said: “We are very pleased with this new addition for the Fund. It will strongly underwrite the renewal of our portfolio. The acquisition of NoMA House meets the goals of the Fund, to invest in high quality office in prime locations. With still dry powder to spend, we continuously search for new opportunities optimising our portfolio through acquisitions and active asset management”
The NoMA House office building will be part of the CBRE Dutch Office Fund, a non-listed real estate Fund, managed by CBRE Global Investors. The investment strategy of the Fund is to invest in high quality office buildings in 10 identified hotspot (prime) locations.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.0 billion in assets under management* as of September 30, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.