NautaDutilh's Real Estate Transactions Team has assisted Union Investment in the acquisition of office building ITO-SOM (51.980 m²) in the Amsterdam business district 'Zuidas'. The acquisition is one of the largest single-asset transactions in the Netherlands since the start of the financial crisis in 2008.
The seller is German open-end fund Hausinvest of Commerz Real. De investment is accommodated in the open-end fund UniImmo. In the same area, also known as the 'financial mile', Union Investment also bought the new office buildings of AkzoNobel and Stibbe, as well as Motel One opposite the RAI (still to be built) and the Marina offices on the IJdok. In the transactions of Motel One and Marina, NautaDutilh also assisted Union Investment. After completion of the projects, Union will have almost 107.000 m² office space and 552 hotel rooms on the 'Zuidas' in its portfolio, surpassing other large German investors including Deka (owner of Vinoly, The Rock and Symphony).
NautaDutilh's team that advised Union Investment consisted of David van DIjk, Frank Spraakman, Kees Koetsier, Esther Vochteloo, Laurens Braaksma, Pravesh Sing, Wilma Booij, Madelon de Blok, Tim Grundmeijer, Harald Wiersema, Herman Speyart, Rob van der Hoeven, Marinke Israëls and Frederike Manzoni.
Various media paid attention to the deal, including:
- Het Financieele Dagblad, 'Duiters doen recordaankoop op Zuidas' (only available in Dutch)
- De Telegraaf, 'Kantoren Zuidas verkocht aan Duitse belegger' (only available in Dutch)