Aventicum Real Estate, on behalf of a real estate investment fund that it manages, has successfully sold a Dutch office portfolio known as ‘Project Hawk’ to a joint venture between Revcap Advisors Ltd (Revcap) and Unifore Real Estate (Unifore).
Project Hawk comprises a portfolio of 12 office properties and almost 70,000 sqm LFA of institutional grade real estate in one of Europe’s most competitive markets. The portfolio of 12 office buildings is centred in and around Netherlands’ G4 cities and includes five assets in Utrecht, three in The Hague, one in Rotterdam and three in the Amsterdam region. Since Aventicum’s first acquisition in 2017 and in collaboration with asset manager Cairn Real Estate, Aventicum has actively managed the assets and stabilised the portfolio resulting in an occupancy rate of more than 90% and a WALT in excess of 5 years.
Revcap and Unifore will seek to continue to build on the strong fundamentals of the assets and further improve the ESG footprint of the portfolio.
Aventicum Real Estate is a real estate investment management platform, affiliated with Credit Suisse and the Qatar Investment Authority, and operates from offices in Zurich, London and Amsterdam. Aventicum Real Estate manages or advises a series of successive closed-end real estate investment funds that seek to acquire under-managed real estate in desirable locations in Europe that can be actively managed to improve their operating performance and residual value.
Revcap is a London based leading European investor that targets the small and medium sized real estate markets in carefully aligned joint ventures with local operating partners like Unifore. Since inception, Revcap has transacted over £10bn of real estate across nearly 500 transactions.
Unifore is a specialized Dutch real estate investment and asset management company with about €800+mio in Assets under Management.
JLL, Dentons, Deloitte and SGS advised Aventicum during the transaction. Revcap and Unifore were advised by Colliers, DLA, Greenberg Traurig, CFP and EY.