PropertyEU - November 5, 2007
FNV Vastgoed, the property unit of the largest union confederation in the Netherlands, has divested four offices with a total area of 27,500 m2 via a sale-and-lease-back transaction with UBS Global Asset Management. The financial details were not disclosed.
The offices are located in Amsterdam, Rotterdam, Groningen and Bergen op Zoom. FNV, headquartered in Amsterdam, is leasing back the real estate assets on a long-term basis. Epac Property Counselors advised FNV on the transaction, while UBS Global Asset Management was advised by Cushman & Wakefield. The FNV has 16 affiliated unions representing 1.2 million members.
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