Raiffeisen sells office complex 'De Admiraal'

Raiffeisen Immobilien Kapitalanlage-Gesellschaft mbH has sold the office complex De Admiraal in the Utrecht region, the Netherlands. Buyer and financial details of the transaction have not been disclosed.

De Admiraal was built between 2002 and 2006 and comprises a total volume of approximately 46,203 sq m office space, divided over seven towers, each with a separate entrance, and 885 parking spaces located in the car park underneath part of the complex and at street level.

Matthias Marhold, Managing director at Raiffeisen Immobilien Kapitalanlage-Gesellschaft mbH, says: “The sale of De Admiraal office complex is in line with our strategy to strengthen our focus  on core investments. Due to the current market conditions in the Netherlands, this was the right time for us to sell this value-add property.”

Situated at a high visibility location next to the A12 motorway, the complex benefits from

excellent accessibility and both the city centres of Utrecht and Nieuwegein are in close vicinity .

Reinier Wegman, Head of Sales at Savills Netherlands: “De Admiraal is one of the larger office buildings in the Utrecht agglomeration, an area that is increasing in popularity among investors and occupiers. The set-up of the building together with long-term lease agreements with Ordina and Ballast make this a truly value-add investment.”

Raiffeisen Immobilien Kapitalanlage-Gesellschaft mbH was advised by Savills and Lexence during the sale.