pressemitteilung baker mckenzie

High cash distribution for fund investors

Nordcapital Fund sells Baker McKenzie House in Amsterdam

Hamburg, 6 August 2019. The Hamburg-based asset manager Nordcapital has sold the ca. 11,000 m2 Baker McKenzie House on behalf of its property fund Nordcapital Niederlande 7 to the Italian Cicerone Fund, managed by Fabrica SGR and advised by investment company CBRE Global Investors. The main tenant of the fully let property is the international law firm Baker McKenzie. In close cooperation with Houthoff and CVO Group the real estate company NEW NRG has executed the sales process.

"In recent years we have seen an enormous increase in demand for Dutch office space. As active asset manager we used this positive momentum in a structured sales process to sell this well located, prestigious property," said Florian Wagner, Managing Director of Nordcapital Asset Management GmbH & Cie. KG. Through the sale of this property the fund’s private investors will benefit from an extra cash distribution in the amount of their original equity investment. The iconic building at Claude Debussylaan 54 is part of the NORDCAPITAL real estate fund issued in 2005. Two further office buildings in Rotterdam and Apeldoorn remain in the fund. By the end of 2018, the fund had distributed around 65 percent of the equity to its investors.

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