Amsterdam, November 21st 2018 – A joint venture between Angelo, Gordon & Co., L.P. and Stadium Capital Partners has expanded its portfolio of managed offices (formerly oVVice and Atoomclub) with the purchase of office property at PJ Oudweg 41 in Almere.
This concerns approximately 7,450 m² GFA office space and 92 parking spaces and is currently unlet in anticipation of a thorough renovation. It is the first expansion of the portfolio since the purchase of oVVice and Atoomclub in June 2018. The JV partners expect to open the new branch in early March 2019. To this end, the ground floor will be completely renovated in accordance with the managed office concept, and the office floors will be equipped to the wishes of customers.
The portfolio has a total lettable floor area of 40,000 m² LFA. After this purchase, the portfolio comprises nine locations in the following cities: Almere, Amersfoort, Amsterdam (two locations), Apeldoorn, Arnhem, Utrecht, Rotterdam and Zwolle. The JV is one of the few owner-operators of managed offices in the Netherlands. Customers can choose between renting one or more fully equipped workspaces, or a fully customized office. There is also the possibility to rent the option for short periods.
The joint venture intends to expand the portfolio to major office locations throughout the Netherlands, and wants to further invest in the branches currently in the portfolio. The choice for Almere stems from a positive vision on the future of the city as a business location and specifically developments in the Almere Centrum area. Many real estate transformations take place in the area and a great deal of attention is paid to them from the municipality. As a result, the joint venture sees an interesting opportunity for its concept.
As a legal advisor, Core Notariaat was involved on behalf of the buyers.