Lynx Portfolio
Commerz Real sold an office portfolio in the Netherlands for c. €370 mio.
NL real estate - Knight Frank advised Commerz Real with the sale of the ‘’Lynx’’ office portfolio in the Netherlands.
German asset manager Commerz Real sold their office portfolio in the Netherlands for c. €370 million. CCP 5 LL, the core-plus perpetual fund advised by Tristan Capital Partners, has acquired the portfolio.
The c. 126,000 sqm portfolio comprises six high-quality office properties, located in established submarkets of Amsterdam (three properties) and Utrecht (three properties). All properties have good public transport connections and are located in office submarkets that are experiencing continuing improvement.
The portfolio’s largest asset is the Millennium Tower, a landmark building in the Sloterdijk business district of Amsterdam, located just 500 metres from the Sloterdijk inter-city railway station. The property comprises c. 42,000 sqm of high-quality space, divided over 23 floors, as well as 382 parking spaces. The second largest asset in the Amsterdam area is Handelsplein, located a five minute walk from the metro in the attractive city centre of Amstelveen. The property comprises three interconnected buildings with a total leasable floor area of c. 13,700 sqm and 568 parking spaces and offers residential development potential.
Other assets in the portfolio include Orion (a 11,100 sqm asset located in Hoofddorp, close to Schiphol Airport, Amsterdam and built in 1998), Avenue (a 16,500 sqm asset located in Utrecht city centre and built in 2000), Courtyard (a 35,700 sqm asset located in Papendorp, Utrecht and built in 2004) and Rijnzathe (a 6,700 sqm asset located in De Meern, Utrecht and built in 2003).
Commerz Real was advised on the sale by NL real estate - Knight Frank, Houthoff, PWC, and Traject.
