UBS Asset Management acquires the iconic Aurora building in Amsterdam

UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has acquired a prime freehold office asset in Amsterdam, The Netherlands, on behalf of one of its client mandates.

The Aurora building, named after the life insurance company that originally commissioned its design in the 1960s, offers a premium investment asset, comprising retail, ancillary and office space across 9,678 sq m. The building was acquired from a mandate of abrdn.

Originally designed by renowned Dutch ‘functionalist’ architect Piet Zanstra, the building is in Amsterdam’s central business district, benefiting from excellent accessibility via public and private transport links. The asset is let to sector-leading tenants, with online holiday-booking platform Booking.com occupying the office space and outdoor specialist Bever leasing the ground floor retail space. The property provides opportunities to add value in the short to medium-term, which is in line with the mandate strategy.

UBS REPM was advised on the acquisition by Houthoff (legal)

The Houthoff team led by Herman Lohman included Arno Boessenkool, Jeroen van den Bos, Jeroen Vossenberg, Javier Crijnen, Wijnand Peelen, Charlotte de Lahaije,  Anouk de Brabander and Caroline Vos.

Read the publication concering this matter in Propertyfundsworld.