L’Etoile Properties advises Amundi Real Estate during the acquisition of the Allianz Tower

L’Etoile Properties advises Amundi Real Estate during the acquisition of the Allianz Tower in Rotterdam CBD

Amsterdam, 16 December 2019 –L’Etoile Properties acted as investment manager on behalf of Amundi Real Estate for the acquisition of the Allianz Tower in Rotterdam, the Netherlands. The seller was M.M. Warburg & Co who acted on its own behalf for the open-end real estate investment fund KanAm Grundinvest Fonds.

The 19,000 sqm Allianz Tower consists of 20 office floors and will be fully leased to the Allianz Group as per June 2020. The property (formerly known as the Robeco Tower) was originally built in 1991 and served as the headquarters of Robeco before they moved to another property within Rotterdam in 2016.

The property is currently under a full renovation to fully suit the new tenant Allianz who will use this building as their Dutch Headquarters. The building will be delivered in line with the highest modern day standards and will offer besides office space an auditorium, a staff restaurant and underground parking for 207 vehicles.

The Allianz Tower is located on Coolsingel 120 within the CBD of Rotterdam, which is the second largest city in the Netherlands. Its central location makes that the property is both highly visible and easily accessible. Metrostation ‘Beurs’, which is only two stops away from the Central Station, is located in front of the entrance of the building.

L’Etoile Properties will be the property manager of the Allianz Tower on behalf of Amundi Real Estate. It is the second office building Amundi Real Estate acquired this year in the Netherlands being advised by L’Etoile Properties.

Floris van Maanen, Managing Partner and COO of L’Etoile Properties, comments: “We are proud to have advised Amundi Real Estate again during the acquisition of a highly-sought after core investment proposition such as the Allianz Tower. This transaction fits the investment strategy of Amundi perfectly, given the long lease with a strong covenant tenant and the prime office location combined with the high modern day building quality and sustainability. The ongoing renovation works, which are expected to be delivered in June 2020, challenged the during the acquisition process. However, our knowledge and long-term relationship with Amundi Real Estate enables us to manage challenging transactions such as this one smoothly and professionally”.

Amundi Real Estate has been advised by L’Etoile Properties as investment manager, Greenberg Traurig provided legal and tax advice and BOAG provided technical advice. KanAm Grundinvestment was advised by Houthoff and Drees & Sommer. The broker of the transaction was CBRE.

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