Simmons & Simmons has advised Meijer Realty Partners on its acquisition of a.s.r. Vastgoed Ontwikkeling, the coveted Dutch company that holds a.s.r.’s real estate development business. Transfer of a.s.r. Vastgoed Ontwikkeling (‘the company’) is planned for the end of April 2016.

This was a particularly substantial and complex acquisition given the company’s business consists of eight prominent projects in the Netherlands, most of which combine a mix of offices, retail and housing, of which development is underway. This includes: De Zuid Norfolk in Scheveningen (EUR 180 million), the redevelopment of Kruisvaartkade in Utrecht (200 housing units), the next stages of the Meerrijk residential development in Eindhoven (EUR 190 million), Catharinasteeg/Aalmarkt in Leiden (EUR 40 million), Osdorpplein in Amsterdam (30,000 m2 plus 340 housing units and 700 parking spaces), Prisma Bedrijvenpark in Bleiswijk (80 hectares), Oosterheem in Zoetermeer and the redevelopment project for Post Utrecht of the former post office at Neude in Utrecht (15,500 m2).

Meijer Realty Partners is an investment vehicle of one of the founders of MAB and Meijer Bergman. Simmons & Simmons has been assisting Meijer Realty Partners with reaching its goal of becoming one of the main project developers/investors in the Netherlands with a portfolio of over EUR 1 billion, through this transaction and other deals such as the acquisition of Megastores in the Hague (EUR 66 million).

Partner in the firm’s corporate group, Rob Hendriks, who led the team commented: “Our team of experts, consisting of lawyers, civil law notaries and tax advisors, worked in very close cooperation with Meijer Realty Partners to successfully achieve another acquisition for their company. This specific deal is ground breaking because it includes a significant portfolio of multi-purpose projects at A-locations which are still under development, rather than being a single purpose project that is already fully completed. We are pleased to work with a renowned project developer with such extensive experience like Meijer Realty Partners, and to continue supporting them on the ongoing, successful growth of their business.”

Bart Meijer, CEO of Meijer Realty Partners: “We are more than delighted with the planned acquisition of a.s.r. Vastgoed Ontwikkeling. It is a great business with a history of successful and creative property development projects throughout the Netherlands. The Simmons & Simmons team has advised us in a very effective and professional way. Thanks to their ongoing support, we were able to close the transaction successfully and on time.”

In addition to partner Rob Hendriks, the Simmons & Simmons team included Luc Cohen (partner), Sandra Voet-van de Wijdeven (counsel), Andrea Chao (managing associate), Gijs ter Braak (deputy civil law notary), Siemkje Batenburg (deputy civil law notary), Martijn Stuart (associate) and Maureen Hovens (associate).

Meijer Realty Partners was also advised by Fakton and KPMG.