OVG Real Estate sells high tech office building MM25 in Rotterdam

OVG Real Estate has sold the MM25 office building located at Marten Meesweg 25 in Rotterdam, the Netherlands to a private family office from the Middle East. The renovated property comprises approximately 15,000 sq m of office space and is fully let.

MM25 is the former headquarters of electricity company Eneco and has been redeveloped into a 'SMART building' by integrating various smart technologies, based on the EDGE Technologies platform. For example, information collected by sensors and intelligent data infrastructure is now used to manage the building. In addition LED lighting, a new energy-efficient climate installation and heat-resistant glass have led to more energy efficiency. After the renovation, the energy label has improved from a G-label to an A-label.

The new MM25 design is by Dam and Partners Architects and offers 15,093 sq m of office space and 546 parking spaces. Occupiers of the fully-leased office building include Coca Cola, Croonwolter & Dros, Mobilis and Servicis.

MM25 is the first building rewarded with an innovative Green Loan Facility provided by ABN AMRO bank to OVG Real Estate.

Boudewijn Ruitenburg, Executive Commercial Director at EDGE Technologies, says: "This sale confirms the need for new smart, high-quality office buildings in Rotterdam. Our vision to create healthier working and living environments is driving us to further promote the integration of smart technology with EDGE Technologies.''

Jordy Diepeveen, Head of Acquisitions at Savills, adds: "As indicated in our recent research report, there is a lot of interest in the Rotterdam office market. This acquisition is a good example of new capital finding its way to Rotterdam, following the recent sale of the global headquarters of Unilever N.V. to a special purpose entity advised by Aegila Capital Management Limited. With Savills recent acquisition of Cluttons in the Middle East we are well-placed to help buyers finding and securing the right deals."

Savills and Houthoff advised the buyer. The seller was advised by Cushman & Wakefield, JLL and AKD.