Union Street Investments announced the acquisition of an office building in Eindhoven and Venlo from Propertunity NL. Union Street is a platform that was established in 2015 as a leading real estate fund that invests in various Dutch real estate markets. Union Street was founded and owned by Monarch Alternative Capital LP, a real estate investor from New York.
Union Street has purchased an office and business space located at Hudsonweg 5-9 on the Trade Port West business park in Venlo. The complex consists of approximately 910 square meters of office space and approximately 8,120 square meters of business space, as well as 50 parking spaces. The property in Venlo is used as a cold storage facility and is occupied by three tenants. The office building in Eindhoven consists out of 3,591 square meters, with its largest tenant being IT-company ISAAC. It is located in the office location Strijp/ Woensel.
With the acquisition of this property, Union Street has further expanded its growing real estate portfolio in the Netherlands.
Union Street was commercially advised by Spring Real Estate during this transaction. Spring Real Estate will also be responsible for the asset management of the building. In addition, Union Street was legally advised by Loyens & Loeff. Propertunity NL was commercially advised by BNP Paribas Real Estate and legally advised by A&O.
If you want to receive more information about the transaction or the available space in the office building, please feel free to contact Sjors van Iersel (Spring Real Estate).
About Spring Real Estate
Spring Real Estate is a transaction-based real estate services firm with a team of highly educated and analytically skilled employees. The company was founded eight years ago and has grown in record time to become a ‘Top 15’ firm within the Dutch market.
Spring distinguishes itself by using technology and data combined with a strong focus on long term relationships to deliver a structured sales approach and research-driven advice.
About Union Street Investments
Union Street Investments is a platform created by Monarch Alternative Capital LP in 2015 that focuses on purchasing high quality buildings in the Netherlands. The platform is exclusively asset managed by Spring Real Estate and focuses on purchasing buildings which have asset management or development upside potential. It currently holds twelve properties totalling over 99,200 square meters which are located in markets such as Amsterdam, Rotterdam and The Hague amongst others. Union Street is currently in expansion mode and is evaluating numerous additional opportunities to further grow its portfolio.
About Monarch Alternative Capital LP
Monarch Alternative Capital LP is a global investment firm founded in 2002 with approximately $5 billion in assets under management. Monarch focuses primarily on opportunistic credit and distressed situations across corporate debt, real estate, special situations, and other parts of the credit markets. Monarch has invested over $40 billion in its strategy while maintaining a consistent and repeatable approach. While disciplined in approach, Monarch’s dynamic sourcing enables the firm to capitalize on overlooked and niche areas on a global basis. Monarch draws on the skills and experience of 69 employees, including 23 investment professionals, across its offices in New York and London.
Monarch has a long and successful history of investing in opportunistic real estate focused on areas that leverage Monarch’s core tenets. In addition to significant internal resources, Monarch has substantial relationships with operating partners and advisors that it works with to help create value.
For more information about Monarch, please visit www.monarchlp.com.