18 December 2015

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Bouwinvest Real Estate Investment Management’s specialist office real estate fund has sold a portfolio of 14 non-core properties in the Netherlands to an affiliate of MCAP Global Finance (UK) LLP (collectively “MCAP”) .

The fourteen freestanding or smaller properties sold by the Bouwinvest Office Fund to Bryant Park Netherlands B.V.no longer fit with its strategy and are located in Maastricht, Amsterdam, Utrecht, Rotterdam, Zoetermeer, Dordrecht, Leiden and Zwolle.

Bas Jochims, Head of Asset Management Offices at Bouwinvest, said: “This sale enables Bouwinvest to accelerate the optimisation strategy for the Fund as we focus the portfolio on distinctive office buildings located in the four big cities in the Netherlands. This disposal will enhance the overall quality of the portfolio and contributes to the continuation of its long-term outperformance.”

The Office Fund focuses primarily on acquiring and exploitation of multi-let offices. Typically the assets offer flexible space for a variety of tenants, good sustainability credentials and are in locations in the four biggest Dutch cities that are easily accessible locations by public and private transport. The portfolio includes the World Trade Centre (WTC) in The Hague and WTC Rotterdam, the Olympic Stadium plus the Citroën buildings on the Stadionplein in Amsterdam, which are currently undergoing redevelopment.

DTZ Zadelhoff advised the Bouwinvest funds on the transaction, while De Brauw Blackstone Westbroek provided legal advice.

[1] MCAP Global Finance (UK) LLP is a UK subsidiary of New York based investment manager Marathon Asset Management, L.P. (Marathon).