THE HAGUE, NETHERLANDS-Munich-based Real IS, member company of German savings banks group Sparkassen finance group and an asset management company for commercial real estate of German landesbank BayernLB, has bought the office complex Beatrixpark here for its new Holland fund. Debt financing for the $137 million deal was provided by BayernLB.

Real IS will incorporate the property into their new Bayernfonds Niederlande I fund, which already holds an object in Amsterdam’s business park Teleport. “The Netherlands belong to the most successful and efficient business nations of the world and offers advantageous location factors,” said Andreas Heibrock, member of the board. Both objects are rented on a long-term lease by the Dutch state. “The state as tenant in an established location was crucial for our investment decision,” added Heibrock.

Total investment volume of the fund amounts to $194 million, of which $104 million is equity. The fund calculates with an initial annual payout of 6%. Beatrix Park offers 280,000 square feet.