Tristan Capital Partners fund buys Rotterdam office building
CCP 5 LL, a core-plus open-end fund advised by Tristan Capital Partners, together with its local operating partner Nexus Real Estate, has acquired an iconic office building in the CBD of Rotterdam, Netherlands.
The building, known as The Core is situated close to the central train station, and offers 16,940 square meters (182,340 square feet) of office space across 10 floors and a parking garage with 478 parking spaces across four floors, operated by Q-Park on a long-term lease.
Originally known as The Weena Building, the property dates back to 1968 and was originally designed by prominent reconstructionist architect Huig Maaskant. In 2019, part of the building was refurbished.
“The strength of Rotterdam’s underlying local economy is feeding through into stronger office occupier market dynamics at a time when there has been a steep reduction in supply of office stock,” said Kick Van der Wel, director at Tristan Capital Partners. “Older and obsolete space