TH Real Estate has invested €1bn (£871m) in Amsterdam-based EDGE Technologies.
The investment manager has completed the acquisition of EDGE Olympic from EDGE Technologies on behalf of the Cityhold Office Partnership and has also committed to acquiring EDGE Grand Central in Berlin, due to complete in 2020.
The assets, which together are worth €200m, will deliver more than 350,000 sq ft of prime office space.
The new strategic partnership plans to grow the portfolio to €1bn over the next three to five years, with TH Real Estate acting as the investment manager.
Coen van Oostrom, founder and chief executive of EDGE Technologies, said: “This collaboration is a powerful testament to our shared commitment to create a positive social, economic and environmental impact in major cities worldwide.”
Jasper Gilbey, fund manager, Cityhold Office Partnerships, TH Real Estate said: “We look forward to working with EDGE Technologies to scale this venture to over €1bn in the short term.”
Launched in January by OVG Real Estate, EDGE Technologies specialises in the development and management of latest-generation buildings that will capture data in order to optimise the user experience and the building’s environmental performance.
Both EDGE Olympic and EDGE Grand Central will be part of the new EDGE Technologies portfolio and the ambition is to expand this venture across Europe in the coming years.
To send feedback, e-mail emily.wright@egi.co.uk or tweet @EmilyW_9 or @estatesgazette
