State Street buys Byzantium building in Amsterdam

State Street Global Advisors, on behalf of an American pension fund, has acquired the ‘Byzantium’ building in Amsterdam, the Netherlands, from Warburg HIH  managed by Cording for a purchase price of € 25,6 million. The acquisition comprises 2,600 sq m of office and 2,045 sq m of retail.

The mixed use Byzantium complex was built in 1991 and consists of offices, retail, residential units and a large car park of which the two latter are not part of the sale. The offices provide for very efficient and high quality floors with tenants like Bloomberg, Tommy Hilfiger and Bolton Group. The retail area is prominently located and houses tenants like Asics, Club Med and Hi-Tech.

The property was designed by the renowned architect Rem Koolhaas (OMA) and is situated on the busy Stadhouderskade, next to the entrance of the Vondelpark, near the Leidseplein.

Warburg HIH was advised by Cording, CBRE and DLA Piper. Savills advised State Street both technically and commercially during the acquisition process. Houthoff Buruma provided legal advice.