Principal Real Estate Europe, on behalf of the Principal European Core Fund (PECF), has completed the acquisition of the 10,000-square-meter (108,000-square-foot) Helix office building in Utrecht, which it forward funded in a €44 million ($53 million) development agreement with area developer AM in January 2020. This marks the completion of the transfer of the building from AM to PECF.
Giles Smith, head of funds management at Principal Real Estate Europe, said, “On completion, the Helix will be an attractive office building in a popular city location where there is a shortage of office space, making it ideally suited to our European core fund portfolio. The building provides high quality, flexible office accommodation that meets the changing nature of occupier demand and complements the Principal European Core Fund’s focus on sustainable real estate investment.”
Located in the heart of the Utrecht Leidsche Rijn area, the Helix office building
