King Street Sells Sustainable, Modern Office Asset in Hoofddorp
(Adnkronos) - AMSTERDAM, Jan. 10, 2023 /PRNewswire/ -- King Street Capital Management ("King Street"), a leading global alternative investment firm, announced it has completed the sale of Pharos (the "Property"), an iconic office asset in the Netherlands.
The announcement follows King Street's initial purchase of Pharos in January 2016 as part of a larger portfolio of six office assets located in close proximity to train stations in key Dutch regional cities. The Property, which was originally constructed in 2004, sits in Hoofddorp, an established office market of the Amsterdam Metropolitan area, with superb connectivity to Schiphol Airport and Amsterdam. Together with its operating partner, King Street extensively renovated the Property from 2018 to 2020, transforming it into an appealing multi-tenant office. Pharos has approximately 25,057 square meters of leasable area and is currently 89% leased to a diversified international tenant base.
"We are pleased to have completed the business plan on this project, which further supports our investment mandate of transforming well-located real estate in key European cities into high-quality, modern and sustainable assets," said Paul Brennan, Managing Director and Co-Head of Real Estate at King Street.
With a focus on sustainability, health and well-being, Pharos has received both A+ EPC and BREEAM In-Use Excellent ratings. Furthermore, the building offers tenants top quality common space and meetings rooms, a spacious atrium, an organic restaurant featuring fresh locally-grown organic food, an outdoor terrace, fitness facility and ample parking.
Additional information on the Property can be found at https://pharoswork.com/
King Street is a global alternative investment firm founded in 1995 that manages approximately $22 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify misunderstood and complex investment opportunities across asset classes, up and down the capital structure. For more information, please visit www.kingstreet.com.
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