Hannover Leasing has acquired Blaak8, a 13,500-square-metre office scheme in Rotterdam. The property serves as the new headquarters of Stedin, a Dutch energy service provider, which has let the building for a term of more than 10 years.

Hannover Leasing paid €52 million for the property, which was sold by the Dutch Kroonenberg Group. Hannover Leasing plans to contribute the property to a closed-end fund that it manages.

“As an economically attractive location, the Netherlands offers great investment potential,” says Hubert Spechtenhauser, managing director of Hannover Leasing. “This is complemented by a fiscal system that is favourable to German investors, making the Netherlands particularly interesting for closed-end funds.”

The 20-storey building also includes 166 parking spaces and is located across from Rotterdam’s Blaak railway station. The energy-efficient building meets the requirements for a class A+ green building label.