Two funds managed by Paribus Immobilien Asset Management recently sold Le Carré office building in Zwolle to CK Capital Partners and entities affiliated with Monarch Alternative Capital LP (“Monarch”). Le Carré is a high-quality multi-tenant office building located at the central station of Zwolle.
Le Carré is a modern office building constructed in 2006. It was designed by Döll Architects in collaboration with Royal Haskoning. The multi-tenant building consists of 6 building blocks comprising a total lettable floor area of approx. 28,200 sq.m and a multi-story car park comprising 320 parking spaces.
The central station of Zwolle is a major hub for the northern part of the Netherlands. Furthermore, Zwolle is one of the fastest growing cities in the Netherlands. Project ‘Spoorzone’ was recently launched and initiated by the municipality of Zwolle, the Province of Overijssel, the Dutch State and the Dutch Railways which includes major infrastructure upgrades such as: the relocation of the bus station to the south-side (Hanzelaan) of the central station, a bus-bridge over the railway tracks to improve the accessibility for public transport (due to be operational in January 2019) and a pedestrian bridge to connect Hanzeland with the city centre (in front of Le Carré). This infrastructure restructuring project comprises a total investment of EUR 100 million funded locally. Furthermore, Euro 500 million is earmarked to be invested regionally in the Zwolle railway area.
CK Capital Partners and Monarch were commercially advised by JLL, legally advised by Loyens & Loeff, and technically advised by SGS Search.
Paribus Immobilien Asset Management was legally advised by Six Lawyers and commercially advised by Cushman & Wakefield.