CMS assists Lloyd Fonds in acquiring Deloitte building

Lloyd Fonds has acquired Deloitte's new office building in Papendorp, near Utrecht, the Netherlands, from developer VolkerWessels for EUR 25 million. The 7,500 m² of office space and 153 parking spaces are under construction and will be delivered in May 2012. Deloitte is also currently based in Papendorp. The entire building will be leased to Deloitte. The initial yield will come to just over 6%.

According to its Dutch partner, Amsterdam-based Innova Investments, Lloyd Fonds is focussing on acquiring single-tenant office buildings in the Netherlands and has already started looking for its next investment property. Last month, Lloyd Fonds acquired KPMG and KPMG Meijburg's 10,000 m² office building in The Hague.

CMS Derks Star Busmann represented Innova Investments with regard to the legal and notarial aspects of the acquisition in Utrecht, while CVO assisted with the structural, electrical and mechanical portions of the case.

The CMS team comprised Sebastiaan Sellenraad, Femke Stroucken and Roland Bos.