PingProperties sells Jacobsweerd to W. P. Carey

05-08-2015

PingProperties has sold the Jacobsweerd office building in Utrecht to CPA 18, a REIT managed by W. P. Carey.

Building
Jacobsweerd is located at Sint Jacobsstraat 300 in Utrecht and has a total lettable floor area of 14,387 m² of office space and 203 parking spaces. The Chamber of Commerce moved into the building a few months ago, joining existing lessees the RVB (Central Government Real Estate Agency), BKWI (Netherlands Bureau for Information Exchange within the Work and Income Sector) and IB (Benefits Intelligence Agency). The building was renovated and its sustainability improved for the Chamber of Commerce, so that it now boasts an energy label A.

Corporate Office fund I
Jacobsweerd was formerly part of the PingProperties Corporate Office fund I. Following the sale of Jacobsweerd, all that remains in the fund is the ownership of BAM Infra Nederland’s head office in Gouda. This single-tenant building, which is leased for the long term to a strong debtor, guarantees the extremely stable continuation of the fund.