Deka Immobilien has acquired a mixed-use property in The Hague from a fund associated with MCAP Global Finance (UK) LLP, the European subsidiary of Marathon Asset Management LP, headquartered in New York.
Deka said the property is to be brought into the WestInvest InterSelect open-ended real estate fund. The parties have agreed not to disclose the purchase price.
The “Sijthoff City” property, which was completely refurbished in 2015, is located in the main pedestrian zone of The Hague. The total of around 11,500 square meters of rentable space is divided into retail outlets on the ground floor and first floor and offices on the four floors above.
The property offers a broadly diversified mix of tenants from retail, catering and office. The building is also considered a new landmark of The Hague because of its eye-catching exterior cladding. It was certified with the British BREEAM seal of approval for sustainable building as “Very good”.
With this purchase, WestInvest InterSelect is further expanding the Netherlands portfolio with a high-quality, certified property in a retail location.