Patron Capital and Rubens Capital Partners acquire office property in Rotterdam
A joint venture consisting of Patron Capital and Rubens Capital Partners (RCP) has acquired an 11-story office asset of the De Westerlaantoren building in Rotterdam’s historic city center.
Located in the Scheepsvaartkwartier, the 8,720-square-meter (93,861-square-foot) property is situated within the 19-story landmark. The area is known as one of the most prestigious business and residential districts in Rotterdam.
The partners said they have already identified a range of asset-management initiatives to drive value and occupancy, including a capex program to upgrade the building and its amenities.“This transaction was a compelling opportunity to acquire a well-located asset with significant upside potential, and we look forward to working with RCP to realize our strategy for this asset,” said Julian Rosenberg, principal at Patron Capital. “The Netherlands has proved robust throughout the challenges of the pandemic, with low levels of vacant high quality office