PingProperties sells ‘Luna ArenA’ in Amsterdam to LaSalle

23-11-2018

LaSalle Investment Management has acquired the Grade-A office building Luna ArenA in Amsterdam South East for the Encore+ fund, via the acquisition of all the shares in IF Office Fund IV B.V.

PingProperties acquired Luna ArenA in 2010 from investment bank Blackrock, aiming to reposition and lease the asset. In 2012 PingProperties leased two third of the building to TMF, followed by Stryker in 2014. Early this year PingProperties finalized its business plan by extending the Stryker lease.

Encore+ is a Pan-European open-ended Core+ Fundfully managed by LaSalle. Luna ArenA is the fourth Dutch acquisition for Encore+ after previous deals in Amsterdam and Eindhoven.

The prominent office asset is part of the Plaza ArenA complex and has a total lettable floor area of approx. 15,600 sq.m divided over 8 floors. Luna ArenA is fully leased and serves as (regional) headquarters of TMF Group and US medical company Stryker Corporation. Luna ArenA is situated on walking distance to Amsterdam Bijlmer ArenA train station and all facilities and amenities in Amsterdam South-East, one of the main office districts in Amsterdam.

PingProperties was advised by JLL (commercial), Loyens & Loeff (legal) and Rechtstaete (fiscal). Weebers Vastgoed Advocaten, Deloitte and Savills acted on behalf of LaSalle.