RABO REAL ESTATE GROUP SELLS ‘DE ROTTERDAM’ TO AMUNDI REAL ESTATE
Rabo Real Estate Group has sold the building ‘De Rotterdam’ in Rotterdam, The Netherlands, to a consortium of Korean Investors, led by AMUNDI Real Estate. The iconic building was designed by OMA/Rem Koolhaas. The sale comprises approximately 75,000 sq m of office space, the nhow hotel with 278 rooms and approximately 2,000 sq m of conference and event spaces, approximately 3,000 sq m of commercial units and the 5-storey car park with 670 places. This makes it the largest single asset transaction of recent times.
7,000 sq m let to Media Markt Saturn
Recently, Media Markt Saturn signed a long-term lease agreement of approximately 7,000 sq m of office space in the building. In addition, nhow Rotterdam expanded their congress and event space by 1,000 sq m, with these transactions the building is now nearly fully let.
M. Molsbergen, Project Director De Rotterdam says: “This is a perfect closing for many years of hard work and dedication which has become a successful world renowned iconic building. The successful sale confirms de qualities of this unique building; world class architecture, virtually fully let, at a great location and with a multi-use program that proves it’s added value. It is with pride that we transfer this building to AMUNDI Real Estate and their Korean Partners”.
‘Best tall building in Europe’
Since the completion of the building late November 2013, both De Rotterdam and the city of Rotterdam have attracted widespread national and international attention. In the meantime is more than 95 % of the building, a total of 160,000 sq m, in use. De Rotterdam is one of the new icons of Rotterdam and last year the building was awarded 'Best Tall Building Europe' and runner up in the competition 'Best Tall Building Worldwide' by the Council on Tall Buildings and Urban Habitat (CTBUH).
De Rotterdam is a development of De Rotterdam I BV, part of Rabo Real Estate Group. The design of De Rotterdam is by OMA/Rem Koolhaas. A dedicated team within Rabo Real Estate Group, in cooperation with Molsbergen Development, provided the asset and development management.
Savills and Houthoff Buruma advised Rabo Real Estate Group during the sale transaction. CMS and Stibbe provided tax advice.
The consortium of investors led by AMUNDI Real Estate was advised by L’Etoile Properties and Clifford Chance. The Korean investors were represented by SIMONE Investment Managers.
BOAG, Jones Lang Lasalle, Cairn Real Estate and HVS also assisted the consortium led by AMUNDI Real Estate.
High resolution images of De Rotterdam can be downloaded here.