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Hamburg, 28. May 2019 – The Hamburg-based company Warburg-HIH Invest Real Estate (Warburg-HIH Invest) advised a syndicate of the Korean investors Hana Alternative Asset Management and NH Investment & Securities on the acquisition of EDGE Amsterdam West property development from EDGE Technologies via a forward-funding-deal. It was agreed not to disclose the purchase price. Raised in the 1970s, the office building is currently undergoing a full redevelopment and design overhaul. The completion of the office scheme of the main building, which provides 47,700 square metres of lettable area and includes 659 parking spots, is scheduled for spring 2021. The adjacent building of 5,500 square metres is expected to be completed by mid-2022. The largest tenant is the gas and transmission grid operator Alliander N.V., followed by APG Group and Intertrust Netherlands B.V. Occupancy is currently at nearly 80 percent, the weighted average lease terms being 14 years.
“The transaction justifies our strategy to acquire high-end properties through forward funding deals on behalf of our clients,” said Matthias Brodesser, Head of Transaction Management International at WarburgHIH Invest. “The Amsterdam office market has developed very strongly, in terms of both tenant demand as well as rent performance. Therefore, we are planning further acquisitions in Amsterdam.”
“Amsterdam was at the very top of our list of priorities,” said Yoon Ho Kim, Director of HAAM. “We were very pleased therefore when Warburg-HIH Invest presented EDGE Amsterdam West to us. It was the combination of local expertise and the team’s commitment that enabled us to complete the transaction.”
With the EDGE Amsterdam West project, the Dutch property developer EDGE Technologies is redeveloping a technologically pioneering building with a striking atrium. The massive glass roof plays a key role in providing light to the building and in the regulation of its energy consumption. The property features an optimised building shell as well as windows of particularly high-quality glass. To generate energy, the house 2/2 will be equipped with thermal energy storage facilities and roof-top solar panels.
“Besides investment criteria as long WAULT, grade A tenants, increasing market rents and high tenant demand in the area of Teleport, Edge Amsterdam West is an extra ordinary next generation building due to the combination of smart high tech features and best-in-class sustainability, adding value to the well-being of its day-to-day users and the environment”, said Reinoud Plantenga, Managing Director of Warburg-HIH Invest Real Estate Benelux.
The high asset quality is complemented by the excellent location in Amsterdam’s growing submarket of Sloterdijk. EDGE Amsterdam West is located within walking distance of the Sloterdijk railway station and has direct access to the motorway network.
HAAM was commercially advised by Warburg-HIH Invest and legally by CMS Law. The technical and fiscal consultancy was handled by CVO Group and KPMG Tax Advisory, respectively. EDGE Technologies was assisted by Loyens & Loeff, CBRE and PWC. AKD advised EDGE on the technological implementation.
“The transaction justifies our strategy to acquire high-end properties through forward funding deals on behalf of our clients. The Amsterdam office market has developed very strong, both in terms of tenant demand as well as rent performance. Therefore, we are planning further acquisitions in Amsterdam.”
Matthias Brodesser, Head of Transaction Management International
Warburg HIH Invest
“Amsterdam was at the very top of our list of priorities. We were very pleased therefore when Warburg-HIH Invest presented EDGE Amsterdam West to us. It was the combination of local expertise and the team’s commitment that enabled us to complete the transaction.”
Yoon Ho Kim, Director
Hana Alternative Asset Management
“Besides investment criteria as long WAULT, grade A tenants, increasing market rents and high tenant demand in the area of Teleport, Edge Amsterdam West is an extra ordinary next generation building due to the combination of smart high tech features and best-in-class sustainability, adding value to the well-being of its day-to-day users and the environment.”
Reinoud Plantenga, Managing Director of Warburg-HIH Invest Real Estate Benelux
Warburg HIH Invest
info@hih.de