Dutch real estate developer Edge has purchased an office building in Rotterdam’s central business district for €54 mln as part of its growing focus on asset management and upgrading existing buildings.
Located at Blaak 555, the 27-storey Five55 building provides 28,500 m2 of prime office space. Originally designed by Murphy Jahn and built in 1996, the 107-metre tower underwent a complete renovation in 2020, bringing it up to current standards and ensuring its continued appeal to tenants.
Onno Saes, director of transactions at Edge, said: ‘Following the Cross Towers acquisition completed earlier this year, adding Five55 to our portfolio marks a pivotal step for Edge as we expand from developing and retrofitting sustainable properties to actively managing them. This investment highlights our commitment to delivering energy-efficient buildings and addressing the growing demand for sustainable solutions in the market.’
CBRE provided commercial support for the transaction, while Loyens & Loeff handled the legal aspects.
