European real estate developer and asset manager Edge, together with two Dutch family offices, has acquired a landmark office building in Amsterdam.
Known as Cross Towers, the 23-story office building is centrally located in Amsterdam’s South Axis business district. The main tenant is EY, which uses the building as the base for its Dutch headquarters.
Edge spokespeople said Cross Towers “now presents a prime opportunity for Edge’s expertise in sustainable retrofitting”. The company added that the building’s current energy performance “falls short of today’s standards, highlighting a need for modernisation”.
Edge and its partners plan to transform Cross Towers into a sustainable, energy-efficient property, they said, adding that “this retrofit will not only reduce environmental impact but also create a healthy workspace that appeals to environmentally aware tenants and investors, addressing the growing demand for green buildings in the market”.
Edge has a proven track record of success with acquiring and developing large-scale assets. Last year, the developer teamed up with Mitsubishi Estate London for the £150m acquisition of 125 Shaftesbury Avenue in London’s West End, presenting “a major central London redevelopment opportunity for the joint venture partners”.
Coen van Oostrom, founder and CEO at Edge, said “Acquiring Cross Towers marks a pivotal shift for Edge. We’re moving beyond developing best-in-class assets to also actively upgrading existing assets.
“This deal showcases our commitment to transforming buildings into high-performance, sustainable properties.”
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