ASR Real Estate Dutch office and residential funds have bought a building project from real-estate technology firm EDGE.
ASR has agreed to buy the EDGE Eindhoven smart building project for the ASR Dutch Mobility Office Fund and ASR Dutch Core Residential Fund vehicles.
EDGE Eindhoven is situated at the heart of Eindhoven, next to the city’s Central Station, and forms part of the station area development known locally as Internationale Knoop XL.
The ASR Dutch Mobility Office Fund will own the office building section and the ASR Dutch Core Residential Fund will own the 175 mid-priced rental apartments section of the project which is expected to be completed in the third quarter of 2023.
Pieter Vandeginste, fund director at ASR Dutch Mobility Office Fund, said: “We see great potential in the station area development and in Eindhoven as a city.
”Our fund’s strategy focuses on offices that are not only located near rail hubs, but that also meet the requirements of a new generation of employees. As an innovative high-tech office, EDGE Eindhoven is a perfect match for our strategic vision.”
Robbert van Dijk, fund director at ASR Dutch Core Residential Fund, said: “Internationale Knoop XL is a development that creates a pleasant living and working environment with attractive and green public space. Accessible, with facilities right next door and the city centre just a stone’s throw away.
“Since many of the apartments slot into the mid-priced rental segment, this development will offer homes to a broad target group.”
Robert Alberts, director of transactions at EDGE, said: “Early in the development process we worked closely with ASR Real Estate to make this transaction happen. We are delighted to deliver an innovative living and working environment that reflects both the vision of ASR Real Estate and the future of Eindhoven.”
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