ASR Real Estate, the property arm of Dutch insurer ASR, has acquired a still-to-be-built property on the campus of the Technical University in Delft (TU Delft Campus), marking the second acquisition there for its Dutch science park fund.
Financial details were not disclosed.
The scheme, which ASR describes as a 'nature-inclusive circular building', will serve as the new headquarters of medical diagnostic company Oldelft Ultrasound when it is completed in November 2020. The building will have a lettable floor area of 3,840 m2 and is aiming for BREAAM Excellent certification.
The vendor of the project is Cepezedprojects, the development arm of Cepezed.
Earlier this year, ASR Dutch Science Park Fund purchased the headquarters of software firm Exact, also on the TU Delft Campus, for €24.8 mln. Both investments are closely aligned with the fund's strategy of investing in real estate with a core risk profile on the most mature science parks in the Netherlands.
Fund director Luc Joosten commented: 'The Oldelft headquarters is a very fitting addition to our portfolio. We are very happy with the high quality of the building, especially in terms of sustainability, and with the future tenant, Oldelft Ultrasound. The acquisition is a good example of an investment with an attractive risk-return profile, which the ASR Dutch Science Park Fund targets.'
Established in March, the ASR Dutch Science Park Fund is the fourth sector fund to be founded by ASR real estate, with a primary focus on institutional investors. As with the retail, residential and office funds, ASR Nederland acts as the anchor investor.
Read our reportage of a tour of Dutch science parks and our special report on investment in the life sciences sector, published earlier this year