Reggeborgh, VolkerWessels and Delta

Sole Financial Adviser

Kempen & Co acted as Sole Financial Adviser to VolkerWessels, Reggeborgh Vastgoed and Delta Development in the sale of a prime residential development in the centre of The Hague

Transaction highlights

The project is developed and sold by a consortium consisting of VolkerWessels, Reggeborgh Vastgoed and Delta Development
The project consists of two towers, Adagio and Bolero, totaling 456 rental apartments and c.1,500 sqm commercial space in a prime location in the city centre of The Hague
The development is sold to a group of Dutch pension funds, Adagio is sold to MN acting on behalf of Pensioenfonds Metaal en Techniek, and Bolero is sold to SPF Beheer, acting on behalf of Pensioenfonds Rail & Openbaar Vervoer
Kempen & Co structured a competitive auction process reaching out to more than 300 investors, coordinated the negotiations with a consortium of buyers and brought the deal to completion in difficult markets
Construction has recently started and Bolero and Adagio are expected to be completed in Q3 2022 and Q1 2024 respectively
Kempen & Co acted as sole financial adviser on the sale

Consortium description

Reggeborgh Vastgoed is part of the Reggeborgh Group, an investment company located in Rijssen. Its real estate activities mainly focus on the Netherlands, Germany and Canada
VolkerWessels, one of the largest construction companies in the Netherlands
Delta Development Group is a Dutch real estate developer focusing on all sectors of the real estate market and active in the Netherlands and Germany

Kempen & Co Real Estate credentials

Kempen & Co advised on more than €125 billion of real estate transactions across Europe
Following the successful sale of Polaris, the prime residential development in Amsterdam, to Hines in February, this marks the second successful sale of a Dutch residential development in 2020