Investors - JULY 17, 2014

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CBRE sells 32 properties in the Netherlands to Lone Star

by Andrea Waitrovich

CBRE Global Investors has sold a portfolio of 32 office buildings in the Netherlands on behalf of CBRE Dutch Office Fund to an affiliate of Lone Star Funds. The sales price was not disclosed; however, the portfolio sold for approximately $326 million, according to Real Capital Analytics.

The 3.3 million-square-foot portfolio is made up of buildings located in 12 cities spread over the Netherlands, including Utrecht, Rotterdam, The Hague, Heerlen, Maastricht and Zwolle and includes buildings known as the WTC Papendorp in Utrecht, De Haagse Arc in The Hague, the Coolse Poort in Rotterdam and Gelissendomein in Maastricht.

The largest asset, the 477,028-square-foot office WTC Papendorp, sold for approximately $74.6 million. The property consists of five buildings.

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