Sidley represented Cityhold Office Partnership on the transaction
TH Real Estate, on behalf of the Cityhold Office Partnership (CHOP), has completed the acquisition of EDGE Olympic in Amsterdam from EDGE Technologies, a new technology real estate company founded by Coen van Oostrom. CHOP has additionally committed to acquire EDGE Grand Central in Berlin, a prime office asset which is due to complete in Q1 2020. Together the assets total c.€200m by value and will deliver c.35,000 sq m of prime office space.
The new strategic partnership plans to grow the portfolio to €1bn in the next three to five years, with EDGE Technologies retaining a minority co-investment stake, whilst TH Real Estate will act as the investment manager.
Located in The South Axis, the modern CBD of Amsterdam, EDGE Olympic is a highly sustainable high-tech redevelopment. It provides 12,504 sq m of Grade A office and ancillary accommodation over five floors and 100 underground car parking spaces at basement level. The building will target BREEAM Excellent and WELL Gold certifications.
EDGE Grand Central is located in the Europacity district, a new urban office quarter in the heart of Berlin. It is concentrated around Berlin’s primary train station, Berlin Hauptbahnhof, which acts as a regional and international train station and key connection to the underground network. EDGE Grand Central will provide 22,800 sq m of Grade A office, retail and ancillary accommodation over nine floors with 80 basement car parking spaces. Scheduled for delivery in Q1 2020, the building will target a DGNB Platinum rating with a minimum of Gold.
Sidley advised with a team including Mark E. Thompson (Picture), Lyndsey Laverack and Daire Carr.
Law Firms: Sidley Austin LLP;
Clients: Th Real Estate;