Cascade complex
34,272 sqm
Energy label A++/A+++
341
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)
Office
In portfolio
Track Record
Incorporation
Acquisition of first part (approx. 20,000 sqm) Cascade complex from ING
Joining of new investor
Acquisition of second part Cascade complex (building 1 and 8)
Acquisition of third part Cascade complex (building 9)
Refinancing of Cascade complex, Groningen with Berlin Hyp
Long-term lease extension with the Land Registry (Kadaster)
Long-term lease extension with the Employee Insurance Agency (UWV)
Refinancing of Cascade complex, Groningen with Berlin Hyp
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
Refinancing with Berlin Hyp
Extension of lease agreement with UWV
New lease with Provincie Groningen
Long-term lease extension with RVB
Long-term lease extension with Kadaster
Complete sustainability of Cascadeplein 2 to 10 and Emmasingel 4 to energy labels A++ and A+++
Long-term lease extension and expansion with RVB – 13,500 sqm
