Cascade complex

34,272 sqm

Floor area

Energy label A

Sustainability

341

Parking places

Cascade complex

Cascadeplein 2-10

Emmasingel 1 – 5

Groningen

Adding value with a consistent policy and a clear vision of sustainability

The Cascade complex, situated at a unique location adjacent to Groningen Central Station, is the largest multi-tenant government building in the Netherlands. The complex consists of nine linked buildings and accommodates 17 different government agencies. This prime location is operated with several Triple A lessees and underlying long-term leases.

 

The complex has a lettable floor area of more than 34,000 sqm, part of which (20,000 sqm) was purchased by PingProperties in 2011. In the years that followed the other buildings were purchased in two transactions, so that almost the entire complex is now owned by the fund. The Cascade complex is characterized by government-related lessees which have been accommodated here since its construction in 1997-2000. These include the Central Government Real Estate Agency (Rijksvastgoedbedrijf, RVB), the Employee Insurance Agency (UWV), the Land Register, the Groningen Archives and the Telecom Agency. Both the quality and the accessibility of the buildings are excellent. It is therefore no coincidence that these lessees have generally committed themselves to the location for the long term.

Tenant(s)
Central Government Real Estate Agency (Rijksvastgoedbedrijf – RVB)
UWV
Land Registry (Kadaster)
Novar
Telecom Agency (Agentschap Telecom)

Sector
Office
Status
In portfolio

Corporate Office Fund IV

Investors
3

Status
In portfolio

Track Record

2011

Incorporation

Acquisition of first part (approx. 20,000 sqm) Cascade complex from ING

2014

Joining of new investor

2015

Acquisition of second part Cascade complex (building 1 and 8) 

Acquisition of third part Cascade complex (building 9) 

2016

Refinancing of Cascade complex, Groningen with Berlin Hyp

Long-term lease extension with the Land Registry (Kadaster)

2018

Long-term lease extension with the Employee Insurance Agency (UWV)

Refinancing of Cascade complex, Groningen with Berlin Hyp 

2019

Start improving sustainability program several 

buildings (1 and 9) to achieve Energy Label A

Long-term lease extension with the Central Government Real Estate Agency (Rijksvastgoedbedrijf, RVB) – 25,700 sqm

New lease with Novar                                                 

2020

Refinancing with Berlin Hyp

Extension of lease agreement with UWV                                

2021

New lease with Provincie Groningen
Long-term lease extension with RVB
Long-term lease extension with Kadaster

2022

Complete sustainability of Cascadeplein 2 to 10 and Emmasingel 4 to energy labels A++ and A+++

2023

Long-term lease extension and expansion with RVB – 13,500 sqm

See also

All investments