EDGE and Allianz Real Estate launch £1bn smart office programme
Allianz Real Estate is joining forces with Dutch developer EDGE and German pension group BVK to launch a €1.3bn (£1bn) programme to develop a series of smart offices.
The prime office assets will be developed in Berlin, Hamburg, Munich and Frankfurt and will cover new schemes as well as redeveloping existing stock. The programme will be managed jointly by Allianz Real Estate and EDGE during each development phase. Post completion, Allianz Real Estate will take over management of the assets.
Each project will have a strong focus on sustainability and user wellbeing, and will feature smart technologies as well as new working and space concepts. The assets will meet Carbon Risk Real Estate Monitor sustainability standards on completion.
Allianz Real Estate is joining forces with Dutch developer EDGE and German pension group BVK to launch a €1.3bn (£1bn) programme to develop a series of smart offices.
The prime office assets will be developed in Berlin, Hamburg, Munich and Frankfurt and will cover new schemes as well as redeveloping existing stock. The programme will be managed jointly by Allianz Real Estate and EDGE during each development phase. Post completion, Allianz Real Estate will take over management of the assets.
Each project will have a strong focus on sustainability and user wellbeing, and will feature smart technologies as well as new working and space concepts. The assets will meet Carbon Risk Real Estate Monitor sustainability standards on completion.
EDGE and Allianz Real Estate have previously partnered on a number of assets, including EDGE East Side Berlin and EDGE HafenCity Hamburg, which have a combined value of €1bn. These projects, which are currently under construction, will serve as a blueprint for the new development programme.
Annette Kröger, chief executive, north and central Europe, at Allianz Real Estate, said: “We continue to believe in the office sector and are excited to launch this programme with our partners to build up a portfolio of resilient, future-oriented and sustainable assets that will meet future tenant demands.”
Coen van Oostrom, founder and chief executive of EDGE, said: “We are thrilled to start this development programme with Allianz Real Estate and BVK and have them join our journey to bring better buildings to the world. Together, we trust that we will make a larger sustainable impact on our industry and offer the highest quality of future-proof offices to our tenants.”
Greenberg Traurig acted as legal adviser for Allianz Real Estate and EDGE; Freshfields Bruckhaus Deringer acted for BVK.
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Photo: EDGE Amsterdam
