TH Real Estate signs €1bn deal with EDGE Technologies

TH Real Estate signs €1bn deal with EDGE Technologies

TH Real Estate, acting on behalf of the Cityhold Office Partnership (CHOP), has completed the acquisition of EDGE Olympic office building in Amsterdam from EDGE Technologies. CHOP has additionally committed to acquiring EDGE Grand Central in Berlin, a prime office asset which is due to complete in Q4 2019. Together the assets total €200m and will deliver 35,000 m² (376,736 ft²) of prime office space.

 

The new strategic partnership plans to grow the portfolio to €1bn in the next three to five years, with EDGE Technologies retaining a minority co-investment stake, whilst TH Real Estate will act as the investment manager. 

 

Located in the South Axis, the modern CBD of Amsterdam, EDGE Olympic is a highly sustainable, high-tech redevelopment. It provides 12,504 m² (134,591 ft²) of Grade-A office and ancillary accommodation over five floors and 100 underground car parking spaces at basement level. The building will target BREEAM Excellent and WELL Gold certifications. 

 

EDGE Grand Central is located in the Europacity district, a new urban office quarter in the heart of Berlin. It is concentrated around Berlin's primary train station, Berlin Hauptbahnhof, which acts as a regional and international train station and key connection to the underground network. EDGE Grand Central will provide 22,774 m² (245,137 ft²) of Grade-A office, retail and ancillary accommodation over nine floors with 80 basement car parking spaces. The building will target a DGNB Platinum rating with a minimum of Gold.

 

Coen van Oostrom, Founder and CEO of EDGE Technologies, said: "I'm truly delighted to announce this partnership with TH Real Estate, a leading investor in a sustainable world that shares our vision of smarter buildings and healthier workspaces. This collaboration is a powerful testament to our shared commitment to creating positive social, economic and environmental impact in major cities worldwide."

 

Jasper Gilbey, Fund Manager, Cityhold Office Partnership, TH Real Estate, added: "This exciting new venture is fully consistent with the Cityhold Office Partnerships strategy of partnering with best-in-class developers on the continent to access high-quality office product in core markets. OVG have a proven track record of building intelligent future-proofed office properties benefitting from high sustainability standards and smart technology and we look forward to working with their new venture, EDGE Technologies, to scale this venture to over €1bn in the short-term."

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