Warburg sells Haagsche Hof office building to Corpus Sireo

The German investment manager Warburg-HIH Invest Real Estate has sold the Haagsche Hof office building in The Hague to Corpus Sireo through an asset deal. The 10,900 sqm GLA building's key tenants are Regus and the oilfield services provider Schlumberger. Warburg acquired the building in 2012 for a pan-European special AIF. “We succeeded in significantly improving the tenant structure and rental income through continuous re-letting,” said Reinoud Plantenga, Managing Director Warburg-HIH Invest Real Estate Benelux. He said the company's returns from the investment were aided by the low level of supply on the local market. Following a lease to NVAO (Accreditation Organization of the Netherlands and Flanders) last year, the the Haagsche Hof building is 89 percent occupied.