After the recently announced sales of Holland Office Center (30 June) and Riva (1 September), the joint venture Bayside/Unifore has sold and transferred another four office buildings in the Netherlands:
- Gooimeer 11, Naarden (Gooimeer) a 2,000 sqm office building fully let to Bergman Clinics
- Bahialaan 200, Rotterdam (Bahialaan) a 2,750 sqm office building fully let to Verwey Vastgoed
- Karspeldreef 16, Amsterdam (Karspeldreef) a 4,600 sqm office building fully let to the Amsterdam Fire department
- RiviumQuadrant, Capelle a/d IJssel (Gemini) a 8,000 multi-tenant office tower, at the ring-road of Rotterdam, with Tribes, Vodafone and Soltegro as three of its main tenants
All four buildings were acquired by Bayside/Unifore in 2014 as part of a larger value add commercial real estate portfolio in the Netherlands. At that time, except for Karspeldreef, the buildings were partly vacant and/or had short remaining lease contracts. Asset manager and co-owner Unifore managed to successfully extend most existing lease contracts and/or attracted new tenants, resulting in an increase of the overall occupancy from about 60% to 90% and almost doubled the WALL.
The buildings were sold in four separate transactions to four different undisclosed buyers. As Bayside/Unifore managed to close the dispositions within a three year hold period, it was also able to recover the RETT paid in 2014.
In these transactions Bayside/Unifore was assisted by VanDoorne, Savills (Karspeldreef) and Heyen Makelaars (Gooimeer).
For more information you can contact Derck Jan Smits at email@example.com or 31 6 23261770