Van Dijk & Ten Cate advises Real I.S. with acquisition of Y-Point office building
Van Dijk & Ten Cate advised Real I.S. with the purchase of the fully rented Y-Point building at Van Diemenstraat 206-380 in Amsterdam. The Y-point building was purchased for € 50 million from the joint venture APF International and Angelo Gordon.
Y-point is a single-tenant office building from 1913 and is fully rented out to Fosbury and Sons. The 7000 m2 building is being completely renovated into high-quality office spaces. The design of the renovation, which is set to bring more unity to the building, is from the Spanish architect studio Cruz y Ortiz, also known from the renovation of the Rijksmuseum. Fosbury and Sons remains the tenant of the building after the renovations.
” The Dutch real estate market and especially the office market in Amsterdam is very attractive. Real I.S. invests in markets with a positive growth history and the prospects in Amsterdam are good “, says Axel Schulz, global head of Investment Management at Real I.S. AG. “Y-point is easily accessible and offers the possibility to split the office space for multi-tenant use if necessary. It fits well with our investment strategy. “
APF / Angelo Gordon were advised in this transaction by CBRE, Osborne Clarke and Structure Development. Real I.S. was advised by Van Dijk & Ten Cate real estate advisors, Loyens and Loeff and Savills.