a.s.r. real estate

EDGE Eindhoven: Result of the acquisition power of the a.s.r. real estate platform

a.s.r. real estate has acquired EDGE Eindhoven, a mixed-use building situated in the heart of Eindhoven. This project encompasses both a high-tech office building and 175 mid-priced rental apartments. It is the second project that the ASR Dutch Mobility Office Fund and ASR Dutch Core Residential Fund have jointly acquired.

Mixed-use from an investment perspective

The popularity of mixed-use concepts has been on the rise over the last couple of years, and the phenomenon is certainly nothing new to us. Mixed-use properties, as the name suggests, combine commercial, residential, and/or office space in one property. As a result of urbanisation and a growing number of households, the pressure on urban areas has been growing. More and more people are opting to live, work and shop in a vibrant environment with lots of amenities within walking distance. Mixed-use buildings offer a scalable solution for the intelligent use of land, and they address the needs and wishes of people and businesses.

Municipalities encourage mixed-use areas, where working, living and leisure come together. Project developers have responded to this trend by developing an increasing number of mixed-use areas. Many stakeholders are usually involved in these mixed-use projects. To minimise risks, project developers prefer to sell mixed-use projects to one purchaser. This guarantees a strong integration of different functions and limits time-consuming debates. This is where a.s.r. real estate comes into play.

Acquisition power of the a.s.r. real estate platform

a.s.r. real estate manages four sector funds (the ASR Dutch Core Residential Fund, the ASR Dutch Mobility Office Fund, the ASR Dutch Science Park Fund and the ASR Dutch Prime Retail Fund). The retail, office and residential Funds all have a focus on highly central locations, with good accessibility and nearby facilities. This shared focus enables the Funds to collaborate in large, multi-sector acquisitions, making a.s.r. real estate an attractive partner for project developers of mixed-use projects. Our management platform is designed to enable swift decisions, with a close eye for investor interest. Each Fund assesses for itself whether an acquisition fits its strategy.

Recent mixed-use acquisitions

The acquisition of Wonderwoods Utrecht (2018) and EDGE Eindhoven (2020) are two examples that illustrate the acquisition power of the a.s.r. real estate platform. Both acquisitions were ideally suited to the ASR Dutch Mobility Office Fund and the ASR Dutch Core Residential Fund. The assets are located near a public transport hub, which fits the strategy of the Office Fund, and are located in one of the focus regions of the Residential Fund. We developed a shared vision to optimise the functions in these projects and we acquired them by collaborating as a platform.

About the projects

Wonderwoods Utrecht: a green, multifunctional real estate project 

Wonderwoods is located in the Beurskwartier district, within walking distance of Utrecht Central Station and the city centre. The project as a whole comprises apartments for sale and rent, offices, a spacious central bicycle storage area, an underground parking garage, healthy bars and restaurants, the ArtScience Museum Playlab, a gym and commercial facilities on the ground floor. The ASR Dutch Core Residential Fund has acquired a total of 254 rental apartments. The ASR Dutch Mobility Office Fund has purchased around 14,000 sq. m. of office space, in addition to the Playlab, which measures around 2,400 sq. m., and the underground facilities in the MVSA Architects’ tower. The Fund is also acquiring the entire underground parking garage with 160 parking spaces.

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EDGE Eindhoven: a smart building in a smart city

EDGE Eindhoven is situated at the heart of Eindhoven, next to the city’s Central Station, and forms part of the station area development known locally as Internationale Knoop XL. The project’s residential section comprises 175 apartments with a strong mid-priced rental focus, in addition to 52 parking spaces and communal bicycle parking for residents. The office section will be of a multi-tenant building with 25,000 sq. m. of offices, 378 sq. m. of commercial space, 200 parking spaces and parking for 360 bicycles. The diverse office concept suits every business model: from larger companies to smaller firms, and even start-ups. The development also has space reserved for a gym, a café/restaurant and a roof terrace, all available to be used by tenants and visitors alike.

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For further information on Eindhoven please see our research paper on the rise and resilience of Eindhoven.

For further information on the ASR Dutch Mobility Office Fund or ASR Dutch Core Residential Fund please contact:

ASR Dutch Mobility Office Fund ASR Dutch Core Residential Fund

Pieter Vandeginste
fund director
ASR Dutch Mobility Office Fund
M: +31 (0)6 22 78 79 55
E: pieter.vandeginste@asr.nl

 

Ricardo Roode
fund manager
ASR Dutch Mobility Office Fund
M: +31 (0)6 53 49 55 87
E: ricardo.roode@asr.nl

Robbert van Dijk
fund director
ASR Dutch Core Residential Fund
M: +31 (0)6 21 29 43 63
E: robbert.van.dijk@asr.nl

 

Marsha Sinninghe
fund manager
ASR Dutch Core Residential Fund
M: +31 (0)6 10 99 08 35
E: marsha.sinninghe@asr.nl