Dubai, United Arab Emirates-Monday 22 April 2019 [AETOS Wire]
Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the acquisition of a portfolio of three newly refurbished office buildings in Amsterdam, The Netherlands (“Quarter Offices buildings”).
The Quarter Offices buildings are located in the Sloterdijk business district in Amsterdam, which is a growing and important office location for business services, and includes several head offices. The properties are immediately adjacent to Amsterdam’s A10 ring road which provides excellent connectivity to the national highway network, the South-Axis, the city center and Schiphol International Airport. Furthermore, the properties are located at walking distance of one of the major train stations of Amsterdam.
The Quarter Offices buildings are three high-quality, prominent office buildings comprising 26,014 sqm of office space and around 430 car park spaces. The buildings were fully refurbished in 2017– 2018 to offer modern and appealing spaces to occupiers, in addition to a flexible layout and five-star amenities. The portfolio provides a secure income stream from a diversified tenant roster, with all leases linked to the CPI index for annual rental growth. Major tenants are well known companies in The Netherlands like Aon, Maandag, DPA , EPEX SPOT and Allshare.
Arzan Wealth acted as the Advisor on the structuring and acquisition of the portfolio and will continue in this role during the holding period of this investment, which is projected to deliver average monthly income to clients equal to 8.00 % per annum.
Muhannad Abulhasan, CEO of Arzan Wealth said:
“This is our fourth Dutch transaction in recent years, reflecting our confidence in the safety and security of this market. Amsterdam has recently seen a number of global players move their business from London, due to its stable and dynamic business environment. The added attraction to this deal is that the portfolio is under-rented relative to the current market, , thus providing an opportunity for overall income growth from the assets.
We are proud of the trust that is being placed in Arzan Wealth by our clients, and we look forward to delivering on our promises to them in future. The primary objective of Arzan Wealth is to preserve and protect the wealth of our clients, while producing an attractive and predictable monthly income.”