TH Real Estate acquires ‘De Haagsche Zwaan’ office building in The Hague from Capreon
TH Real Estate’s European Cities platform has acquired De Haagsche Zwaan in The Hague from Capreon. The core office building represents the twelfth acquisition for the pan-European mandate.
Haagsche Zwaan is a prominent office property with a total lettable area of circa 18,500 sq m including 237 parking spaces. The building is located in the heart of Beatrixkwartier the most sought after office location in The Hague. The property is fully let to international occupiers including blue-chip corporates such as Deloitte, Kuwait Petroleum and Royal Haskoning DHV.
The 20-storey multi-let office building is situated near the central station of The Hague with good access to the A12 motorway. Beatrixkwartier as an office location is popular with occupiers offering a number of important amenities including restaurants, shops and a four-star hotel.
Liz Sworn, Fund Manager of the European Cities mandate, TH Real Estate, comments: “With its excellent location and strong covenant, this property perfectly fits the strategy of the fund. Our bespoke cities research approach has highlighted The Hague as a city that is set to benefit from positive population growth, high quality of life and inward migration, giving it a favourable score for long-term investment.”
The European Cities platform is part of TH Real Estate’s resilient global cities series, which applies strategies designed to focus on diversification, income and long-term capital growth. These strategies focus on investing in high-quality assets in leading cities that are well-positioned in terms of long-term structural trends, including demographic change, urbanisation and technology.
Raphael Noé, Partner and Head of European Property, Capreon, comments: “This disposal delivers excellent value to our investors and is testament to the strength of this landmark asset. The Dutch office sector is performing well, and we are continually looking for investor value in this market. We remain focussed on delivering on our European strategy, making the most of current dynamics and capital flows within the continental market.”
Capreon has over 40 years’ combined experience and is passionate about a partnership approach to real estate. The business embraces collaboration at all levels and geographies to create value for all its partners. Capreon’s robust and sophisticated real estate investment model combines market analysis, stock selection, intelligent financing and intensive asset management.
CMS was acting on behalf of Capreon and TH Real Estate were advised by NL real estate - Knight Frank, Loyens & Loeff, Allen & Overy, EY and Arcadis.