Signal Capital and ARC Real Estate Partners sell long-term leased office building in Diemen

Signal Capital Opportunities (Lux) Investco VIII and ARC Real Estate Partners announce the sale of the office property located at Wisselwerking 58/Diemerhof 48 in Diemen to a French institutional investor for approximately €54 million.

The property totals ca. 20,471 sq. m. as well as 546 parking places and is fully let to ABN AMRO N.V. The property will house ICS International Card Services, a wholly owned subsidiary of ABN AMRO.

Prior to signing a new 10-year lease with ABN AMRO, the property was extensively refurbished.

Gad Caspy, Partner Signal Capital, commented: “Following the successful disposals of our properties in Amstelveen, Rotterdam and Schiphol-Rijk, we are pleased to announce the sale of our office property in Diemen. After the takeover of Tele2 by T-Mobile, we were able to sign a new long-term lease with ABN AMRO. This sale underpins our belief in high quality assets in the broader Randstad area. The deal has delivered an attractive risk adjusted returns for our investors.”

Signal and ARC were advised by Taylor Wessing (Wilma Booij and Remco Schoe).