L’Etoile Properties advises PERIAL Asset Management on the acquisition of the Adam Smith Building

L’Etoile Properties advises PERIAL Asset Management on the acquisition of the Adam Smith Building in Amsterdam for €93 mln

Paris, 13 January 2020 – PERIAL Asset Management pursues its diversification strategy through the acquisition of the Adam Smith Building in Amsterdam, on behalf of its PFO2 investment fund (€2,2 bn AUM).

Perial Asset Management has acquired the Adam Smith Building located Thomas R. Malthusstraat 1-3, in the well-established district of Rieker Business Park in Amsterdam.
Strategically located between the South Axis and Schiphol international airport, the business park hosts world class organizations such as PWC, B Amsterdam and Brunel. It is directly connected to the Hague and Rotterdam through the A4 highway and to Amsterdam’s city center by public transport.

The office building offers a total of 21,000 square meters office space, spread over two buildings connected at their base, and is equipped with 250 parking spaces.

The property built in 2002, has been fully refurbished in 2019, and endowed with several new services including a restaurant and coffee bar operated by WeCanteen and an automated “Grab&Go” convenience store. Moreover, its energy certificate has been upgraded to level A.
The Adam Smith Building is currently occupied by grade A tenants, including Knab Bank’s HQ, TKB, ACN and Tribes.

« In a very dynamic, but selective rental market, the Adam Smith Building constitutes an exceptional rental opportunity through its strategic location close to the city center, its good accessibility, its large floor plates and its high-quality amenities.
This acquisition underlines PERIAL Asset Management’s interest in the Dutch market and its intent to reinforce its presence in the Netherland’s main cities. The Adam Smith building is a new addition to Perial’s ever-growing portfolio in the country, which now includes 7 assets for a total acquisition cost of north of 300M€. » said Yann Guivarc’h, Managing Director of PERIAL Asset Management.

The seller was advised by CBRE, Loyens & Loeff and Arcadis in this transaction. Perial was advised by L’Etoile Properties, NautaDutilh (Coco van Zuiden) and SGS Search. The transaction has been partially financed through a bank loan issued by Berlin Hyp AG (Benjamin Cartier-Bresson) with the advisory of LPA – CGR (Chloé Thiéblemont).

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