HighBrook Investors, a private equity firm specialising in real estate investments in European and US growth markets, has acquired the iconic office property "De Bary" in Amsterdam. The purchase was made on behalf of an investor group led by HighBrook, which also includes Monitor Capital Investments and several Dutch single-family offices. The transaction involves an ensemble of six interconnected canal houses, comprising a lettable area of 8,878 square metres, including three residential units and a retail space.
The "De Bary" property is located on the Herengracht, one of Amsterdam's most prestigious canals. The original six houses were constructed during the "Golden Age" for Amsterdam merchant families. Historically significant is the consolidation of these buildings into a single office complex by banker H. Albert De Bary, who successively acquired the properties between 1919 and 1965. The 17th-century facades and other historical details have been preserved to this day, shaping the property's appearance.
Integration into "The Collection"
Following the completion of this acquisition, "De Bary" will be integrated into "The Collection", HighBrook's platform for prime office properties in Amsterdam. A targeted modernisation of the asset is planned as part of this. With this expansion, "The Collection" now comprises eleven listed office properties on Amsterdam's canals, managed by a nine-strong local management team led by Nick Both.
Alexander Giergen, Principal at HighBrook Investors, commented on the market situation, stating that the Amsterdam office market shows a clear dichotomy. Demand is concentrated on the best buildings in absolute prime locations, while properties in less attractive locations face significant challenges. "De Bary", as one of the most distinctive buildings on the Herengracht, unequivocally belongs to the category of premium properties. Mr Giergen further emphasised that "The Collection" platform was specifically designed for this market environment. The offering is characterised by first-class service and diverse amenities in the city's most prestigious locations, setting new standards, with "De Bary" further strengthening this portfolio.
HighBrook Investors was advised by CityState on this transaction. Legal advice was provided by Greenberg Traurig and Luther, underscoring the complexity and scope of the acquisition.
