First Sponsor acquires Dutch office assets
Deal grants it access to a portfolio of 16 office properties, including crown jewel Mondriaan Tower
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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.
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