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鈥檚 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 鈥渘ow presents a prime opportunity for Edge鈥檚 expertise in sustainable retrofitting鈥�. The company added that the building鈥檚 current energy performance 鈥渇alls short of today鈥檚 standards, highlighting a need for modernisation鈥�.
Edge and its partners plan to transform Cross Towers into a sustainable, energy-efficient property, they said, adding that 鈥渢his 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鈥�.
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 拢150m acquisition of 125 Shaftesbury Avenue in London鈥檚 West End, presenting 鈥渁 major central London redevelopment opportunity for the joint venture partners鈥�.
Coen van Oostrom, founder and CEO at Edge, said 鈥淎cquiring Cross Towers marks a pivotal shift for Edge. We鈥檙e moving beyond developing best-in-class assets to also actively upgrading existing assets.
鈥淭his deal showcases our commitment to transforming buildings into high-performance, sustainable properties.鈥�
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