Key Takeaways
- • Cording Real Estate Group acquired the Erasmushuis, an 11-storey office building in Rotterdam's city centre, for its Benelux Commercial Real Estate Fund, marking the fund's thirteenth acquisition since launch in December 2016.
- • The Erasmushuis comprises 4,300 m² of lettable office space, fully leased to Frame Offices, positioned near Rotterdam's prime retail district.
- • The Benelux Commercial Real Estate Fund currently holds €200 million in gross asset value across 13 properties in Amsterdam, Utrecht, Rotterdam, The Hague, and Brussels, with approximately €200 million remaining capital available for future acquisitions against a gross target volume of €400 million.
- • The fund targets well-located office and retail properties in economically strong cities across the Netherlands, Belgium, and Luxembourg, with a stated focus on diversified cash flows and core locations.
- • Financial terms of the Erasmushuis acquisition were not disclosed.
Summary
Cording Real Estate Group has acquired the Erasmushuis office building in Rotterdam for its open-ended Benelux Commercial Real Estate Fund, according to the asset manager. The property is a monumental 11-storey structure located in Rotterdam's city centre, positioned close to the prime retail district. The building contains approximately 4,300 m² of lettable office space and is fully occupied by Frame Offices, an office operator.
This acquisition represents the fund's thirteenth property purchase since its launch in December 2016. According to René de Heus, head of Investments Benelux at Cording, the fund maintains approximately €200 million in available capital for additional acquisitions. The fund was established to invest in office and retail properties across the Netherlands, Belgium, and Luxembourg, with a specific focus on well-located assets in economically strong cities featuring diversified cash flow characteristics.
The Benelux Commercial Real Estate Fund is structured as an open-ended special fund with a gross target volume of €400 million, comprising €250 million in equity. As of the Erasmushuis acquisition, the fund's total gross asset value stands at approximately €200 million, distributed across 13 properties situated in core locations including Amsterdam, Utrecht, Rotterdam, The Hague, and Brussels. The fund's portfolio strategy emphasizes quality properties in prime locations with multiple income streams.
Financial details regarding the Rotterdam acquisition were not disclosed by Cording or reported in available sources.
This acquisition represents the fund's thirteenth property purchase since its launch in December 2016. According to René de Heus, head of Investments Benelux at Cording, the fund maintains approximately €200 million in available capital for additional acquisitions. The fund was established to invest in office and retail properties across the Netherlands, Belgium, and Luxembourg, with a specific focus on well-located assets in economically strong cities featuring diversified cash flow characteristics.
The Benelux Commercial Real Estate Fund is structured as an open-ended special fund with a gross target volume of €400 million, comprising €250 million in equity. As of the Erasmushuis acquisition, the fund's total gross asset value stands at approximately €200 million, distributed across 13 properties situated in core locations including Amsterdam, Utrecht, Rotterdam, The Hague, and Brussels. The fund's portfolio strategy emphasizes quality properties in prime locations with multiple income streams.
Financial details regarding the Rotterdam acquisition were not disclosed by Cording or reported in available sources.
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