The Netherlands

Kenmore began investing in the Netherlands in 2004 and now has over £205 million of assets under management, based on cost value. In early 2007 the portfolio grew significantly when Kenmore acquired two portfolios comprising 17 buildings for approximately €130 million on behalf of MK Capital. The deal was funded by Lehman Brothers with whom MK Capital subsequently established a joint venture. The Landmark Portfolio was seeded back into this vehicle as were Kenmore's existing Dutch assets.

The joint venture's combined assets total in excess of €220 million and comprise nearly 120,000 sqm of prime commercial property. The portfolio includes 14 properties located mainly in the Ranstad area of central Holland and provides circa 65,000 sqm of prime office space let to over 70 tenants. Individual lot sizes range from 1,000 to 12,000 sqm and tenants include local law firms, accountants, banks and European retailers.