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CMS assists with the sale of the former KPN HQ

09/12/2014

Real Estate Fund Vastgoedfonds IKARIA Beteiligungs- und Verwaltungsgesellschaft mbH has sold the former KPN headquarters 'The Dam' located at Guardiaweg in Amsterdam Sloterdijk to an affiliate of Israeli investor Omnan Investment Group. A total amount of approximately € 100 million will be involved with the sale, refurbishment and transformation of the building into a hotel.

The building is the largest vacant office building in Amsterdam and is a much debated location in the media for altered designated use at the business district of Sloterdijk.

The transaction was the result of a long-term sale process and was realized by the possibility of transformation of the main building (28,000 sqm) to a hotel. With respect thereto, The Rezidor Hotel Goup entered into a prolonged agreement to operate a Park Inn by Radisson Amsterdam.

The remaining floor area of approximately 13,000 sqm will also have a new designated usage as a large entertainment centre, with two restaurants and a bar. This will include an á la carte restaurant, operated by a renowned international chain, which will be disclosed soon.

The team comprised Priamo Boi, Erwin van Elst, Nienke van Renssen, Femke Stroucken, and Arnout Scholten, who assisted with the sales procedure and legal transfer of ownership of the property.

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Femke Stroucken
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Arnout Scholten
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