PingProperties strengthens portfolio with acquisition of UP Office Building in Amsterdam

22-12-2025

PingProperties has recently acquired on behalf of PingProperties Amsterdam Office Fund II C.V. the UP Office Building at Piet Heinkade 55 in Amsterdam. The UP Office Building is the tallest office building in Amsterdam city centre, with a floor area of more than 18,000 m² over 19 floors. Thanks to this purchase, PingProperties has added an impressive office building to its portfolio.

The UP Office Building is a landmark along the IJ, close to Amsterdam Central Station. Situated in the heart of Amsterdam: ‘Silicon Island’, as the city’s Oosterdokeiland is referred to in tech circles. UP forms a dynamic centre, bringing together technology, creativity and sustainability. The UP Office Building is home to a range of innovative tech companies including Mambu, Datto, Cepheid and Infoblox. Other leading companies such as Funda, JustEatTakeaway, Meta, Snapchat and Booking.com are also close by.

Repositioning and modernizing
PingProperties sees huge potential in the office building. Significant value can be added by setting competitive rent levels and making efficient use of the space still available. To achieve this, PingProperties will reposition and modernize the UP Office Building, with a clear focus on the tech sector. The aim of this modernization is to enhance the building’s existing quality and develop a contemporary, tech-inspired identity. The ground floor will undergo a thorough renovation and in 2026 will be given a smart new entrance with hosts, meeting facilities, a company restaurant and leisure facilities. A lively community will also be created for professionals in the tech sector – the perfect place to meet, work together, share knowledge and relax. Innovative startups, scale-ups and leading large tech companies will all be welcome to set up their business here.

Sustainable and future-proof
UP Office Building has energy label A++, BREEAM In-Use Very Good certification and the prestigious WELL Gold label. It means that the building meets the most stringent requirements as regards sustainability, health and comfort. These certifications guarantee optimum air quality, natural daylight and a pleasant indoor climate – essential for productivity and wellbeing.

Perfect location and accessibility
UP is just a ten-minute walk from Amsterdam Central Station and five minutes from the Zeeburg exit of the A10 motorway. Thanks to its excellent accessibility and large car park, the building is the perfect location for both national and international businesses.

Response by PingProperties
“The purchase of UP strengthens our position in the Amsterdam office market,” says Maarten Matze – CIO at PingProperties. “UP is a high-quality building from a technical point of view, at a unique location, and with a strong focus on sustainability and wellbeing. We see huge potential in the further development of this building as the home for both new and well-established tech companies.”

In this transaction, with MCI as one of the investment partners, PingProperties was advised by NDRP (acquisition), CBRE (commercial), Loyens & Loeff (legal) and Rechtstaete (tax). The financing was arranged with Berlin Hyp. The seller was commercially advised by Cushman & Wakefield.