PPF Real Estate Holding has today purchased the property located Capellalaan 65 in Hoofddorp from German Aberdeen Asset Management Deutschland AG on behalf of their fund Degi Europa, for a total investment volume of € 47 mio.
The high quality and sustainable building consists of approximately 30,000 sq.m. l.f.a. and 325 parking spaces and has a remaining lease length of approx. 10 years. The property is rack rented to single tenant Sanoma. Sanoma is a leading European media group with operations in 20 European countries.
Sanoma brands include amongst others AutoWeek, Donald Duck, Kieskeurig.nl, Libelle, Margriet, Nu.nl, Viva, Playboy and Startpagina.nl.
PPF Real Estate Holding currently provides comprehensive services for more than 60 projects and the value of assets under management is approaching EUR 1 billion. The Holding is divided into two units, PPF Real Estate manages projects in selected European countries, and PPF Real Estate Russia is focused on the Russian market.
PPF Real Estate Holding is part of PPF Group, which invests into multiple market segments such as banking and financial services, insurance, real estate, energy, metal mining, agriculture, retail and biotechnology. PPF’s focus spans from the Czech Republic to other Central and Eastern European countries, Russia and across Asia. PPF Group owns assets amounted to EUR 21.5 billion (as of 31 December 2012).
Cushman & Wakefield has commercially advised Seller regarding this transaction, while Van Doorne N.V. has been responsible for the legal advice to Seller. Ploum Lodder Princen has legally advised Purchaser and CVO Group has advised Purchaser in relation to the technical due diligence. NL real estate, as the Knight Frank associate office in the Netherlands, and Knight Frank London has advised PPF Real Estate during the entire commercial process.
Mike Bowden, partner, Knight Frank investment team, commented; “This asset proved a good opportunity to add long, secure income to PPF’s existing Dutch portfolio; whilst offering an attractive running yield, and a low capital value per square meter”.