Buysse & Partners purchases Zilveren Toren in The Hague.
Buysse & Partners purchases Zilveren Toren in The Hague.
Buysse & Partners Smart Assets (BPSA), the real estate arm of the investment group, is buying the Zilveren Toren in The Hague from a German institutional fund. Buysse & Partners is undertaking the purchase together with a renowned Dutch investment family with roots in The Hague. The seller was represented by CBRE. Houthoff, Adelaer and Laurius advised on the transaction for Buysse & Partners Smart Assets. Berlin Hyp is the financing partner on duty.
The Zilveren Toren office building, located on the famous Prinses Beatrixlaan, has approximately 30,000 m² over 20 floors and is 100% leased to MN Services, one of the largest Dutch pension providers, with whom a long-term lease agreement has been signed. The real estate value of the building is around 100 million euros.
Guy Mertens, CEO Buysse & Partners Smart Assets, explains: "The Netherlands has been on the radar of Buysse & Partners Smart Assets from the very beginning. The Hague is to the Netherland as Brussels is to Belgium: a stable, administrative, financial and internationally oriented business centre, with a mature and dependable real estate and investment market. The geographic location, high-quality tenant, and the fact that Zilveren Toren is a pinnacle of energy efficiency make it a dream combination, adding exceptionally attractive future-proof value to our real estate portfolio."
Zilveren Toren, located in the Prinses Beatrixwijk, was built in 1968 and previously served as the headquarters of Nationale Nederlanden (NN Group) and then ING Investment Management. The tower has strong similarities with the BP Tower in Antwerp, which is also in the Buysse & Partners portfolio. Both buildings were designed in the same spirit of the times, with particular attention to natural light and a spacious structure, making them ideal for an office environment.
A real estate portfolio of almost 300 million euros
2020 was a busy year for Buysse & Partners Smart Assets. At the beginning of this year, BPSA purchased the Glaverbel building (designed by Renaat Braem) in Brussels from UBS and with the purchase of Zilveren Toren, the real estate value of the portfolio increases to almost 300 million euros and the group is realising its international ambition.
Buysse & Partners Smart Assets' portfolio also includes the Brutalist CBR building in Brussels by architect Constantin Brodzki and the BP Tower in Antwerp by architect Léon Stynen. Last summer (2019) BPSA sold the Hilton Old Town building in Antwerp and this summer the new Blommaert site, next to Axel Vervoordt on the canal in Wijnegem, was completed.