South Korean asset manager Kiwoom Asset Management has acquired the Queens Towers office buildings in Amsterdam, Netherlands, for €130 million ($144 million).
It marks the foreign investor’s entry in the Dutch market. The Seoul-based firm has been acquiring major real estate assets in Europe over the last 18 months.
The seller was Maxima Holdco.
The three-office asset is a highly prominent 28,000-square-meter (301,000-square-foot) office building on Amsterdam’s West Axis, a rapidly improving office location on the A10 ring road circling central Amsterdam. It is let on a WAULT exceeding nine years with the majority of the income derived from the government agency UW
