AMSTERDAM, 5 August 2019 – CBRE Global Investors (advisor) and the international acquisition platform of the Cicerone Fund (Cicerone RE Holding BV), managed by Fabrica SGR, have acquired the Baker McKenzie House in Amsterdam. The vendor is NORDCAPITAL Immobilienfonds Niederlande 7 GmbH & Co. KG. This is a fund managed by The Nordcapital Group who were advised by NEW NRG.
The circa 11,000 sq m office is fully let, anchored by the international law firm Baker McKenzie. On the ground floor there are two restaurants and one retail unit.
This iconic prime office building is located on the South Axis, opposite what will be a newly developed entrance to the train station. The South Axis is a key area for major law firms, as well as offering various hotels, restaurants, cafés and amenities.
“This trophy asset has a number of attributes that make it a sound addition to the portfolio,” commented Owen Clayton, Transaction Manager, CBRE Global Investors. “The building is located on one of the best-performing office locations in Europe and is set to improve further. It also offers secure income from a strong covenant,” he added.
Giovanni Maria Benucci, Fabrica SGR’s CEO, said: “We’re proud to announce a new deal for Cicerone Holding platform investment, coming just a few days after the iconic Brussels Mondrian Building acquisition. The operation is consistent with Cassa Forense’s investment strategy, focused on trophy assets in major European cities. The share of international asset allocation for Cicerone Fund reached 45%, in line with the investor’s geographic diversification needs.”
Following the recent acquisition of the Mondrian Building, this is the seventh investment for the Cicerone RE Holding outside of Italy.
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About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $107.2 billion in assets under management* as of March 31, 2019. The firm sponsors investment programmes across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
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