First Sponsor acquires Dutch office assets

Singapore

FIRST Sponsor Group Limited has enlarged its footprint in the Dutch commercial real estate market by brokering another deal, this time with three co-investors to acquire a portfolio of office assets in the Netherlands.

The group, whose major shareholders are Hong Leong Group Singapore and Tai Tak Estates, led the consortium in a sale and purchase agreement to acquire all the issued shares in Delta Lloyd Vastgoed Kantoren BV (DLKA) for 205.6 million euros (S$315.2 million). This consideration sum includes tax adjustments, rental incentives, estimated working capital and transaction costs.