Union Investment takes over the mixed-use complex "The Pulse" in Amsterdam. The project has been completed and transferred to the portfolio of the open-ended real estate fund UniImmo: Deutschland. Union Investment acquired the project on Amsterdam's South Axis in 2021 and invested around €400m. The ensemble was built by a joint venture between the developers VORM and EDGE.
"The Pulse is an important component for the further development of Amsterdam's South Axis and a profitable new addition to the portfolio of the UniImmo: Deutschland fund. It is also a prime example of an integrated mixed-use concept that is more than the sum of its parts and aims to maximise synergies between the different types of use,” said Martin Schellein, Head of Investment Management Europe at Union Investment.
The Pulse has around 36,000m2 of lettable office space and 200 flats with a total lettable area of around 9,600m2. The ensemble is completed by around 1,600m2 of retail and restaurant space and a boutique cinema with around 2,700m2. Public areas, including a park and an urban forest on the eighth floor, supplemented by several roof terraces, create natural meeting places for residents and office workers. BREEAM "Outstanding" and WELL "Platinum" certification is planned for the neighbourhood.
"The attractiveness of the location and the building is also reflected in the numerous contracts already signed with well-known tenants at the time of completion. Lease agreements for the office tower have been signed with the management consultancy BCG, the energy group Axpo, the engineering and IT company Da Vinci and the company DRI Energy (TBC), which specialises in renewable energies, among others," said Marcel Rousseau, Head of Asset Management Europe 3 at Union Investment. "Letting of the residential tower has also got off to a successful start, with most of the flats already let."
Most recently, restaurant operator Ysbreeker signed a lease for 738m2 on the ground floor of the building. The popular cafe and restaurant is scheduled to open at the end of March 2025.
Image source - Union Investment.
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