Tristan Capital Partners’ fund, EPISO 5 and Timeless Investments have acquired 18,000 sqm multi-tenant office complex in Amsterdam for about €54 million, from Dutch investment manager APF and Lingotto.
The Kauwgomballenfabriek (KBF) is located in the Omval area of the city, on the eastern side of the Amstel River. The property consists of five buildings, includes former chewing gum factory and industrial site, which has been transformed into creative multi-tenant offices over the past few years. The area has now been designated as a mixed office/residential development zone by Amsterdam’s planning authorities to meet the city’s burgeoning demand for business space and accommodate its population growth.
Ali Otmar, Senior Partner and Deputy Head of Investments, said: “The KBF complex has a solid reputation with an attractive tenant base in a great location. Amsterdam’s strong office and residential markets also make the KBF acquisition a very attractive prospect for potential further development. This is the fourth acquisition we have made with Timeless and we intend to draw on the deep experience of Timeless in this field.”
Tim van Veggel, Managing Partner of Timeless Investments, said: “Our collective ambition is to be part of the envisioned mixed-use development of the Omval area in close cooperation with the municipality of Amsterdam. Given our presence in the city as investor, developer and as co-founder of B.Amsterdam, KBF is a perfect fit for us.”
The KBF Complex is well-located for accessibility, close to two metro stations and 1.5 km from the Amstel station; one of Amsterdam’s main railway and transport hubs.