To read this full article you need to be subscribed to Newsline.Sign in Sign up for a FREE subscription
GARBE Institutional Capital sells Ypsilon Park office complex in the Netherlands
GARBE Institutional Capital has sold the Ypsilon Park office complex, located in the center of the Benoordenhout district of The Hague, the Netherlands, on behalf of one of its funds.
Focus Real Estate and Molsbergen Development acquired the property in a club deal with a group of private investors for an undisclosed amount.
Ypsilon Park consists of an office building, most of which is leased to EY, and the Ypsilon office building. The property’s office space spans 27,500 square meters (296,008 square feet), with 2,600 square meters (27,986 square feet) available for new tenants.
Ypsilon Park was built as a sales office for a popular oil company and has undergone a comprehensive refurbishment, which included sustainability measures. The new owner is working on a development plan to transform the office building into apartments.
CBRE managed the tender process for Ypsilon Park.