Savills Sells Second Investment To Amundi

On behalf of Union Investment Real Estate GmbH, international real estate advisor Savills has successfully closed the sale of De Monarch I in The Hague, the Netherlands to AMUNDI Real Estate for an undisclosed sum. AMUNDI notably also recently bought the largest single asset in the Netherlands, De Rotterdam.

De Monarch I is located in the heart of the Beatrix quarter, The Hague’s Central Business District and has been (re)designed by KCAP. The building comprises 17,000 sq m of office space and 180 parking places. It was redeveloped in 2012 to a class A grade office building with a BREAAM-NL Excellent score for its semi-public tenant CAK.

Reinier Wegman, Head of Sales for Savills Investment in Amsterdam, comments:

“Following its purchase of De Rotterdam earlier this year the sale of De Monarch demonstrates Amundi’s keen interest in the Netherlands’ commercial property market. We expect an active 6 months to year end with further large portfolio, and single asset sales across all sectors.”

Savills Property Management will continue to manage De Monarch I after the sale.