Think urban, act smart

MN acquires RIVA building in Den Bosch from Bayside/Unifore

September 04, 2017

On behalf of Stichting Pensioenfonds Metaal en Techniek (PMT), MN has bought the RIVA building from the joint venture Bayside/Unifore.

RIVA, located in a prominent location next to the central railway station in the Paleiskwartier of Den Bosch, was bought by Bayside/Unifore in 2014. At that time, Van Lanschot was the single tenant of the building, who had terminated its lease. Asset manager and co-owner Unifore managed to successfully turn around the asset into a multi-tenant property, materially re-leased its vacancy and further improved its sustainability. Current tenants are amongst others Rabobank, Hevo, Zelfstroom and Van Lanschot Chabot.

Riva was built in 2000 and has a GLA of approximately 10,500 sqm plus more than 110 parking spaces. In the coming months, a number of sustainability measures will be completed, providing the property with a BREAAM very good label. Unifore will remain involved, subject to a limited rental guarantee, to lease-up the remaining vacancy.

In this transaction Bayside/Unifore was assisted by Savills and VanDoorne. MN/PMT was advised by Cushman & Wakefield and Houthoff.