Marathon buys €380m Dutch property portfolio from Credit Suisse
Credit Suisse has confirmed the sale of 14 real estate objects in the Netherlands to MCAP Global Finance, the UK daughter of New York based Marathon Asset Management.
The portfolio, which includes 14 properties in Amsterdam, Den Haag, Rotterdam, Utrecht, Eindhoven and Arnheim has been valued at approximately €380m, the purchasing price of the transaction has not been disclosed.
Karl-Josef Schneiders, managing director and head of Germany at Credit Suisse Real Estate comments on the sale: “With this packaged sale, we have managed to profit from growing demand for Dutch property as part of the broader economic recovery in the Netherlands.”
The sale has been part of the planned liquidation of the CS Euroreal and CS Property Dynamic funds, since May 2010, the group has sold 82 objects at a total value of €4.6bn, the remainder of the portfolio amounts to 32 properties at a total value of €1.9bn.