Macquarie Asset Management and real estate developer Edge have agreed a strategic partnership, under which Macquarie Asset Management will acquire a significant minority stake in Edge alongside founder and CEO Coen van Oostrom.
The financial details of the transaction were not disclosed.
Edge, a sustainability-focused developer, is currently developing around €5 bn of new office buildings including Berlin’s Edge East Side, Amsterdam’s The Pulse, and Edge London Bridge.
Coen van Oostrom, founder and CEO at EDGE, said: ‘I’m thrilled to announce this partnership with Macquarie, which is a powerful testament to our shared commitment to create sustainable value over the long-term. Leveraging Macquarie’s capabilities, we can build on our 25-year track record and further scale our efforts to help portfolio owners and real-estate managers upgrade their property assets, adopt smart building advancements, and improve their energy efficiency.’
‘We are seeing rapidly growing demand for sustainable, wellbeing-focused office spaces from tenants, investors, governments and financiers. We are delighted to invest in Edge, where we look forward to partnering with their specialist management team to expand the business in existing and new markets, as well as draw on our investment management experience to support the build-out of Edge’s office developments,’ added Dana Gibson, co-head of Real Estate in Europe at Macquarie Asset Management.
This acquisition is part of Macquarie Asset Management’s global opportunistic real estate strategy. ‘Globally we have seen Covid-19 accelerate changing trends in the office sector, with growing demand for sustainable office spaces that are suitable for new economy tenants and their workforces. We have been actively pursuing investments in this sector and are delighted to gain exposure to Edge’s market-leading sustainable office developments,’ commented Jelte Bakker, head of Opportunistic Real Estate at Macquarie Asset Management.
