Property Week – 90 North heads to Holland to buy brand new HQ building
90 North Real Estate Partners has bought the global headquarters of construction firm Heerema Marine Contractors (HMC) in Leiden, the Netherlands, for €70m (£54m).
The Mayfair-based firm, which invests on behalf of individuals in the Middle East, acquired the newly constructed 222,000 sq ft office building from a fund managed by Standard Life Investments.
HMC, a contractor in the offshore oil and gas industry, has fully let the building on a 20-year lease.
Cherine Aboulzelof, Partner and Head of Continental Europe at 90 North, called the Netherlands an “attractive market with a strategic location in Europe”.
Dubai-based Arzan Wealth partnered with 90 North on the acquisition and ING Bank financed the deal.