A Joint Venture between Angelo, Gordon & Co and Stadium Capital Partners has acquired the serviced office portfolio and the management platform of Atoomclub/OVVICE. The portfolio has a combined surface area of approx. 33,000 m2 VVO and is comprised of four Atoomclub buildings and 4 oVVice buildings. The buildings are located in Amsterdam (2x), Utrecht, Rotterdam, Amersfoort, Arnhem, Apeldoorn and Zwolle. With their fully integrated “serviced office concept”, the buildings have a high occupancy rate. The Joint Venture intends to further invest in the institutional quality of the buildings and intends to expand the portfolio with other major office locations throughout the Netherlands.
The transaction was established by Masterdam as Financial and Strategic Advisor to AtoomClub/oVVice. As a legal adviser, AKD was involved on behalf of the sellers and Van Doorne on behalf of the buyers.
Arjan Kuilman, Managing Director Atoomclub/OVVICE: “This acquisition confirms the great value of our special serviced office strategy. With our new shareholders we are ready for our next growth phase in which we can support even more organizations with attractive working environments. Our years of collaboration with Masterdam deserves special attention as well. As strategic and financial advisers, they played an indispensable role in realizing this transaction.”
Marcel Hertig, Vice President for the Netherlands at Angelo Gordon: “We are pleased with our continued collaboration with Stadium by jointly taking over the buildings and management platform of Atoomclub and oVVice. With our years of experience as office investors, we know better than anyone else that offices with extra facilities and services come out on top in the rental market. The buildings we have purchased are at the start of that development. We intend to further improve and expand the current portfolio and apply the concept to other buildings in the Netherlands.”
Richard Stolle, Managing Director at Stadium Capital Partners: “We have had great experiences with our Joint Venture with Angelo Gordon over the past years and we are delighted with this further collaboration. The office market is changing very rapidly, with flexibility and extra services becoming increasingly important when renting out. This acquisition gives us an excellent starting position to capitalize on the rental market and to further expand our strategy. We position ourselves in the middle segment of the market, which does not include the top segment but also not the bottom of the market. We focus on further growth within the Randstad, but good locations in large cities outside the Randstad are also eligible. Our buildings will distinguish themselves through user-friendly locations, beautiful furnishings, the best technology and great smart services.”
Atoomclub/oVVice
Atoomclub/oVVice, founded in 2012, is one of the few owner-operators of serviced offices in the Netherlands. Tenants and visitors feel welcome in a warm home environment. With its attractive pricing, Atoomclub/oVVice is an affordable alternative for both larger organizations and local tenants.
Stadium Capital Partners
Stadium Capital Partners, founded in 2013, is an independent Real Estate and Asset Management organization. Stadium is located in Amsterdam and has more than EUR 1 billion under management. Stadium focuses on investment housing, senior housing, retail and office market and also on development. In addition to real estate and asset management, Stadium is also active as a corporate finance advisor. Stadium works for (international) institutional investors, family offices and real estate companies
Angelo Gordon
Angelo Gordon is an independent investment management from New York, with European offices in Amsterdam, London, Frankfurt and Milan. Angelo Gordon has been investing in commercial real estate since 1993 and has bought more than $ 13 billion of buildings worldwide. Within Europe, Angelo Gordon has bought more than $ 2.25 billion in value-add and core plus real estate in all sectors since 2009.