APF International buys the Vitens building in Utrecht on behalf of the 'Opportunity fund APF I BV'
APF International buys the Vitens building and associated buildings in Utrecht on Reactorweg 47 on behalf of the ‘Opportunity fund APF I BV’. The complex has a total surface area of approximately 13,500 m² lettable floor space with expansion opportunities for the future. This purchase is consonant with APF International’s strategy to acquire ‘add value’ real estate.
For the comfort of the current tenants, and to address the vacancy, APF – partly by investing heavily – will revitalise and rebrand the complex so that the offer satisfies the wishes of future users. The buildings will be renamed the FLOW buildings. FLOW (‘a flow of liquids’) is a reference to and a symbol of thanks to the former owner, Vitens (the water company), who developed the buildings at the time. The revitalisation will also explicitly look at ‘people flow’, an American concept which focuses on the needs of the user. New and innovative solutions will be implemented at the location so that users can move smoothly, safely, comfortably and functionally. In terms of logistic connections, the building meets these criteria due to its location directly on the A2 and diagonally across from CS Leidsche Rijn (Leidsche Rijn Central Station).
The water company Vitens has a strategy to divest property and to move towards a rental structure. In accordance with its strategy, Vitens will enter into long-term leases for two floors in the building. More than half of the buildings are now rented by reputable parties such as Vitens, Randstad Nederland, Yacht, Ducares and Synergy Health.
The main building is characterised by a full service conference centre on the 8th floor and flexdesk offices and meeting units on the ground floor. These spaces are managed by Corporate Places. APF International has successfully initiated this new participation fund for its investors in collaboration with the emissions agency Adviesgroep Reyersen van Buuren. It concerned positioning in a very limited circle.
In line with the ‘add value’ strategy, APF International (along with various investors) has recently acquired, addition to the Vitens building, an Amsterdam canal belt portfolio, the Keynes building in Amsterdam and the historic Johannahuis in Wassenaar. The Johannahuis in Wassenaar is now being transformed into 35 owner-occupied apartments.
JLL was involved as an adviser on behalf of Vitens. The buyer was assisted by Albers and van Tienen, PwC and Nivab.