CORESTATE’s Acquisition Of New Babylon Complex In The Hague From Icon Real Estate

Osborne Clarke in the Netherlands has advised Icon Real Estate on the tax matters relating to the sale of the New Babylon complex in The Hague to CORESTATE.

CORESTATE, for the first time, has acquired a property for the large Danish pension and insurance company PFA Pension via its subsidiary Hannover Leasing.

Initially opened in 1978 as the Babylon complex, the building was completely redeveloped in 2012 to meet the current market standards. New Babylon measures approximately 49,000 sq. m. and offers office spaces and other amenities and services. New Babylon is let to a diverse range of international tenants including but not limited to TNO, Property Works, Neuberger Berman, Coolblue and NLO.

The complex is located in The Hague’s central business district located adjacent to the central station.

Icon Real Estate is a market-leading, innovative and tenant-focused real estate company that has created a collection of more than 300,000 sqm of prime office real estate in the Benelux region’s principal cities, including Amsterdam, Rotterdam, The Hague and Brussels.

Corestate Capital Holding S.A. operates as a real estate investment company. The Company acquires, develops, and manages real estate properties, as well as asset and property management services. Corestate Capital Holding conducts its business in Germany.

Tax partner Job van der Pol (Picture) advised Icon Real Estate.

Involved fees earner: Job van der Pol – Osborne Clarke;

Law Firms: Osborne Clarke;

Clients: Icon Real Estate;