3 April 2018
Sale of the office complex after comprehensive refurbishment and modernisation leads to an IRR of well above 30%
Hamburg/Amsterdam, 3 April 2018 - Cairn Real Estate, a Dutch subsidiary of MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4), has successfully completed the re-development process with the sale of the "BLAAK16" office building acquired in 2014. The 1970s property in the commercial centre of Rotterdam directly opposite the Blaak trainstation was completely renovated and modernised within four years. The sale gives investors an IRR of well above 30%. MPC Capital was a co-investor.
BLAAK16 was converted into a modern office building with a focus on sustainability. The property will have a BREEAM Excellent label. The building is supplied with energy via geothermal energy and solar modules. The elevator systems are designed in a way that the energy generated during braking can be reused. Natural light is optimally used throughout the building in addition to energy-saving LED lighting. The floor space of approx. 14,000 sqm is spread over a ground floor with a large entrance area, 11 floors tailored to the needs of the tenants and a large roof terrace with a breathtaking view over the Rotterdam skyline. BLAAK16 is easily accessible both by public transport and by car and has a parking garage with 150 parking spaces. Tenants include Credit Exchange B.V., Portbase and Ocean Network Express.
"Our strategy is to create sustainable buildings that meet tenants' requirements," says Maarten Briet, Managing Director of Cairn Real Estate. "We strive for sustainability that goes far beyond the purely technical level and creates added value for our investors. With the successful revitalization of BLAAK16 we have once again been able to prove this."
About MPC Capital AG
MPC Capital AG is an international asset and investment manager for real asset investments. Together with its subsidiaries, the company develops and manages real asset investments and investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 250 employees group-wide.
MPC Capital AG Contact
Head of Investor Relations & Public Relations
Tel. +49 40 38022-4347
Montieth & Company
Tel. +1 646.864.356
Montieth & Company
Tel. +44 020 3865 1947