Blackrock International Land has announced that it has agreed to buy an office block in Amsterdam for €25.5m.
The Vida Building, constructed in 2001, is a six-storey, high spec office block in the Amsterdam West area of the Dutch capital.
The property, which is on a site of 1.4 acres, has 102,500 square feet of lettable office space and 110 car parking spaces.
Time Warner and the Dutch Government's construction procurement agency are among the current tenants.
According to a Blackrock statement, the net yield on the investment by the end of 2008 is forecast to exceed 6% and, with passing rents currently below market values, this is expected to rise above 7% over the short term.
There is also the possibility of further construction on part of the site.
Blackrock's managing director Robert Knox has said that the deal will bring hid firm's total investments in the Netherlands to €64m.
