05 December 2017, Dubai, United Arab Emirates – Dubai-based Audacia Capital (’Audacia’) working with its joint venture partner 90 North Real Estate Partners LLP (“90 North”) have jointly advised on the acquisition of two adjacent built-to-suit headquarter office properties now under construction in Hoofddorp, close to Schiphol Airport, The Netherlands.
The properties, being developed by RED Company and designed by architecture firm Powerhouse Company, are both state-of the-art office buildings with a strong focus on sustainability and health.
Consequently, the properties are designed to become an attractive, healthy, collaborative and cost efficient workplace to fulfil the ambition of realising sustainable and healthy buildings, the choice has been made for the world’s most recognised assessment systems in the field: LEED for sustainability and WELL for health and well-being.
The ASICS EMEA and Benelux headquarter is due for completion in October 2018. The new Danone Netherlands Global headquarter office building is due for completion in March 2019.
The combined purchase price was approximately €91M representing.
Emad Mansour, Founder and CEO of Audacia, commented:
“This acquisition heralds Audacia Capital’s entry into the European real estate investment market and provides our partners with an exciting opportunity to be part of a ground-breaking development project. We will continue to develop in this sector, always striving to select and ensure solid, quality returns working alongside trusted partners.”
Nick Judd, Founder and Head of investment at 90 North, commented:
“90 North has now completed its 30th acquisition with many of the properties having similar characteristics – brand new or modern constructions, long leased to strong, global tenants with the highest possible environmental accreditation. As companies seek to hire and retain the best talent from around the world, the quality and environment of the latest office buildings is of paramount importance.”
RED Company, commented:
“We are very proud to partner with Audacia and 90 North on this unique development. It is our mission to create the best workplaces of the 21st century, and we feel that Audacia and 90 North are equally passionate about this ambition. The Hoofddorp area was already one of the most sustainable office development areas in Europe. We are now adding ‘health’ to this profile, as these two new, state-of-the art offices will not only be very sustainable, but also among the most healthy office bulidings in the Netherlands.”
AC Niellsen and Van Gool ♦ Elburg acted as buy-side advisors and Simmons & Simmons acted as legal advisors to the purchaser.
