In a landmark investment, Victory transformed a crisis-ridden and under-invested traditional office building into a market-leading modern complex.
The Atrium was truly a landmark investment in many ways. Its acquisition marked the bottom of the financial crisis.
The building was fundamentally sound and in the best location in Amsterdam’s business district, but faced a number of significant challenges and risks including: a twice-failed sale process in the context of a defaulted loan; no financing available for the acquisition; the prospect of expropriation of a key component of the building by the government; significant deferred maintenance, technical and environmental issues; and frustrated tenants leaving the building in droves.
The sellers and their advisors had a last chance to sell the building and Victory was contacted thanks to our reputation for reliability. If anyone could close this complicated transaction, it would be Victory.