U.S. AEW fund buys Dutch assets, boosts total portfolio value to $220 mln

On behalf of AEW Europe Value Investors II (EVI II), U.S. real estate investment manager AEW has acquired two assets located in Rotterdam, the Netherlands.

AEW acquired the properties, with a total gross leasable area of over 27,000 square meters (sqm), from real estate investment advisor HighBrook Investors, bringing EVI II Fund's total portfolio value close to 200 million euros ($220 million).

The acquired assets include Boompjes 258, which underwent renovation in 2018 and comprises over 16,000 sqm of grade A lettable space over 22 floors. The asset is situated on the banks of the River Nieuwe Maas.

AEW also bought Vasteland 10-40, a mixed-used asset located 500 meters away from Boompjes 258, comprising almost 4,000 sqm of retail space on the ground and first floors, and over 6,000 sqm of office space on the upper six floors.