4 January 2022
Our Netherlands and London offices advised Victory Group on their €765 million deal to buy ABN AMRO’s global head office in Amsterdam.
This deal was touted as the largest single asset real estate transaction ever in The Netherlands at the time of sale, which closed on 23 December 2021.
Financing the transaction for the Gustav Mahlerlaan site was arranged through a combination of equity and senior and mezzanine debt.
Hendrik Jan Schimmel advised on this transaction with our Amsterdam based corporate real estate team, while finance partners Andrei Babiy, Gareth Lawson and their team advised on financing.
The building is located in the Zuidas business district in Amsterdam.
The real estate investment firm will lease the building back to ABN AMRO until the bank has completed redevelopment of its office at Foppingadreef in Amsterdam. This is expected to be completed around 2025, after which time, a head office and branch will remain at the Gustav Mahler site. Victory Group is partnering with G&S Vastgoed to redevelop the building.
Our corporate real estate partner Hendrik Jan Schimmel advised Victory Group on the deal. He said: “We are proud to be a partner of Victory Group in the largest Dutch single asset deal ever. We look forward to working with Victory and G&S Vastgoed on the redevelopment of this great asset, located in the centre of the Zuidas in Amsterdam."
As part of the sale ABN AMRO was careful to consider the wishes of Amsterdam city to ensure the district retained its character.
Erik Moresco, founder and managing partner at Victory Group said: "The global head office of ABN AMRO is an iconic complex at the heart of the Zuidas district and has great potential for sustainable redevelopment. The team at Taylor Wessing were an integral part of the team in helping us successfully conclude this transaction and provided great service throughout."