After a 27-year holding period, Deka Immobilien has sold the de Resident office building in The Hague, Netherlands, from the real estate assets of the Deka-ImmobilienEuropa fund.
It has been sold for €217 million to the Rijksvastgoedbedrijf (RVB), the central government real estate agency of the Netherlands.
Deka Immobilien acquired de Resident in 1996 as a renovation and redevelopment project, achieving a stable cash flow over many years. It is located in a prime downtown location in the government and business district of The Hague, right next to the main train station and the old town. The Dutch government is the tenant of the building, occupying 93% of the space with a lease agreement until 2029.
de Resident is an office tower complex with a total rental area of approximately 53,371 square meters, of which 3,352 square meters is allocated to retail, storage, as well as an atrium. The ensemble consists of the 104-meter tall office skyscraper called Castalia, as well as three additional building sections with a height of up to 60 meters, known as Helicon, plus a large underground parking garage.
Extensive renovation and expansion measures were carried out in 2014, leading to a contract extension with the main tenant.
