MPC Capital launches new Dutch commercial real estate platform

MPC Capital has launched a new commercial real estate platform called ‘InTheCity’ which will be run by MPC Capital’s Dutch subsidiary, Cairn Real Estate, and initially consist of eight assets, valued at around EUR120 million.

The platform will follow Cairn Real Estate’s office strategy that focuses on assets located in close proximity to major transport hubs in strong regional cities in the Netherlands. These assets must also be highly sustainable, offer flexibility to tenants and have a focus on employee well-being.
 
The seed portfolio consists of eight assets that were initially acquired by Cairn Real Estate in 2016 under a redevelopment mandate. The assets were originally from the former ‘Transit’ portfolios and have yielded a strong return for the initial investors.
 
The properties total roughly 63,000 sq m of office space and are located in Groningen, Leeuwarden, Zwolle, Utrecht, Amersfoort, Schiedam and Haarlem. All office space is fully let with leases set to run for another five years.
 
Maarten Briet, Managing Director at Cairn Real Estate, says: “We are seeing a clear increase in demand for office space that is easily accessible by public transport. This is paired with a growing demand from tenants for attractive amenities and a lively, inspiring work environment for their employees. The properties that have been rolled over into the new platform meet these standards very well. Given the quality of the assets, the profile of the tenants and the potential to further improve the properties in the area of health and well-being, we believe this to be a very interesting long-term strategy.”

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