European developer and asset manager Edge and two Dutch family offices have bought the Cross Towers office building in Amsterdam, the Netherlands.
The 29,500-square-meter, 23-storey building in the South-Axis is the Dutch headquarters for the main tenant, global consultancy firm, EY.
Designed by world-renowned architect Foster + Partners in 2008, Cross Towers is to be sustainably retrofitted by Edge to improve its energy performance.
This will reduce environmental impact and create a healthy workspace that appeals to environmentally conscious tenants and investors.
Coen van Oostrom, Founder & CEO at Edge says, “Acquiring Cross Towers marks a pivotal shift for Edge. We’re moving beyond developing best-in-class assets to also actively upgrading existing assets. This deal showcases our commitment to transforming buildings into high-performance, sustainable properties.”
The financing was provided by Berlin Hyp with legal advice from Van Doorne. Edge and its partners were legally represented by Loyens & Loeff and Houthoff. PwC offered financial and tax guidance. The seller was commercially advised by CBRE, legally represented by A&O Shearman and PwC provided tax and financial advice.
