Advising 90 North Real Estate Partners, an independent and globally operating real estate investment adviser, on the acquisition of two adjacent built-to-suit headquarter office properties now under construction in Hoofddorp.

Simmons & Simmons advised 90 North Real Estate Partners, an independent and globally operating real estate investment adviser, on the acquisition of two adjacent built-to-suit headquarter office properties now under construction in Hoofddorp, close to Schiphol Airport, The Netherlands for a combined EUR 91m. This acquisition was in partnership with Dubai-based Audacia Capital.

The properties, being developed by RED Company and designed by architecture firm Powerhouse Company, are both state-of-the-art office buildings with a strong focus on sustainability and health. Consequently, the properties are designed to become an attractive, healthy, collaborative and cost efficient workplace. To fulfil the ambition of realising sustainable and healthy buildings, the choice has been made for the world's most recognised assessment systems in the field: LEED for sustainability and WELL for health and well-being.

The ASICS EMEA and Benelux headquarter is due for completion in October 2018. The new Danone Netherlands Global headquarter office building is due for completion in March 2019.

Team leaders Rob Hendriks and Luc Cohen commented: “The way we advised on these two complicated and important transactions in the Dutch Real Estate market forms a perfect example of our cross border capabilities; we needed the transactional, financing and hardcore real estate capabilities (construction, development, projects and lease) of the Amsterdam office but also the financing capabilities of our Frankfurt and Munich offices and the Islamic Financing capabilities of our Dubai office. These two transactions for the same investor show the added value of our network.”

The Simmons & Simmons team was led by partners Rob Hendriks and Luc Cohen, and further included Anne Fleur van ‘t Hooft, Cathelijne Otte, Siemkje Batenburg, Liesbeth Driest, Andrea Chao, Birte Kersten, Martijn Stuart, Michiel Boer, Victoria den Haring, Erik Hanenburg, Paul Tjiam, Toon de Ruiter, Steven den Boer, Dirk-Jan Gerrits, Tijmen Brüne, Carine Russel, Jan-Joost van Rijsbergen and the Frankfurt, Munich and Dubai offices.

Developer and seller RED Company was assisted by DLA Piper and Loyens & Loeff.