OVG Grand Central Berlin
Edge Grand Central Berlin is due for completion in Q1 2020

TH Real Estate invests €1bn in smart building developer EDGE Technologies

Investment management group TH Real Estate has acquired two buildings from Amsterdam-based EDGE Technologies and said it will fund its expanding portfolio.

OVG The Edge Deloitte

OVG’s original The Edge in Amsterdam occupied by Deloitte

Through its pan-European office investment platform Cityhold Office Partnership, TH Real Estate has committed to acquire EDGE Olympic in Amsterdam and EDGE Grand Central in Berlin. Together the assets total €200m and will deliver over 376,000 sq ft of prime smart building office space.

Launched in January 2018 by Dutch developer OVG, EDGE Technologies specialises in the development and management of buildings that will capture data in order to optimise the user experience and the building’s environmental performance. Both the Olympic and Grand Central buildings will be part of the new EDGE Technologies portfolio, which TH Real Estate hopes to expand globally in the coming years.

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.

EDGE Olympic NL Amsterdam Render Exterior

The first occupiers are due to start moving in to Edge Olympic in May

The acquisition follows TH Real Estate’s ‘Tomorrow’s World’ plan, which includes a public commitment to reduce the energy intensity of its portfolio by 30% by the year 2030.

EDGE Olympic is a highly sustainable, high-tech redevelopment. It provides more than 134,500 sq ft of office and ancillary accommodation over five floors. 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. The building will provide 245,100 sq ft of office, retail and ancillary accommodation over nine floors. Scheduled for delivery in Q1 2020, the building will target a DGNB Platinum rating with a minimum of Gold.

Coen van Oostrom, founder and CEO of EDGE Technologies, said: “This collaboration is a powerful testament to our shared commitment to create 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 benefiting 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.”

Your comments

Read our comments policy here