Rocksping Property Investment Managers has expanded its business with the opening of an office in Amsterdam.
The firm has appointed Laurien Van Wieringen to lead its operations in the country. She has worked for Rockspring since 2007 when she joined from the real estate team of Dutch pension fund investor APG Investments.
Rockspring said Dutch property was becoming increasingly important for its investors, its allocation within its mandates steadily increasing. Currently the firm manages more than €135 million of principally retail and industrial property in the country but it plans to double the amount over the next two years.
The firm said it felt the Dutch market was benefitting from a “stable local economy, relatively low unemployment, the rapid growth of the out-of-town retail format and the increasing competition amongst retailers looking to expand their market share”.
The firm used its announcement of the new office to also reveal it completed the €44.25 million acquisition of the Bossche Boulevard shopping centre in Den Bosch on behalf of the Rockspring PanEuropean Property Limited Partnership, its €1 billion open-ended Europe focused fund.
Jo De Clercq, partner at Rockspring responsible for European transactions and the Benelux offices, said: “Our decision to open an office in Amsterdam reflects our belief in the strength of the local market, especially with regards to the retail sector. With a strategic plan to double the size of our Dutch portfolio in the next two years, we are pleased to have completed our latest transaction in the region, acquiring an asset where there is excellent asset management potential over the medium term.”
“Our experienced local team will be executing specific management plans on this asset and the rest of our growing Dutch portfolio, as well as looking for attractive investment opportunities in targeted sectors across the region.”