Union Investment adds Amsterdam’s “The Pulse” to portfolio in €400 million deal

Union Investment has officially taken ownership of the newly completed mixed-use complex The Pulse, located in Amsterdam’s prestigious South Axis district. Acquired in 2021 as a development project, the property represents an investment of approximately €400 million and now joins the portfolio of the UniImmo: Deutschland fund.

Developed by a joint venture between VORM and EDGE, The Pulse exemplifies modern urban design with its integrated mixed-use concept. Martin Schellein, Head of Investment Management Europe at Union Investment, emphasized the project’s significance: “The Pulse is a pivotal element in the evolution of Amsterdam’s South Axis and a valuable addition to our portfolio. Its innovative design maximizes synergies between office, residential, retail, and leisure spaces, making it more than just the sum of its parts.”

The complex offers approximately 36,000 m² of prime office space, 200 residential units spanning 9,600 m², 1,600 m² dedicated to retail and dining, and a boutique cinema occupying 2,700 m². Its standout public areas include a park, an urban forest located on the eighth floor, and several rooftop terraces designed to foster community interaction. The project is aiming for BREEAM “Outstanding” and WELL “Platinum” certifications, reflecting its commitment to sustainability and well-being.

Key tenants have already been secured, including Boston Consulting Group (BCG), energy company Axpo, engineering and IT firm Da Vinci, and renewable energy specialist DRI Energy (TBC). The residential units have also seen high demand, with most apartments already leased.

In the latest milestone, restaurant operator Ysbreeker has signed a lease for 738 m² on the ground floor. The popular café and restaurant, known for its vibrant atmosphere, is set to open in March 2025, adding to the site’s appeal as a community hub.

Marcel Rousseau, Head of Asset Management Europe 3 at Union Investment, highlighted the strong tenant uptake: “The Pulse has already demonstrated its attractiveness through high-profile lease agreements across its office, residential, and retail spaces. This underscores its strategic value in Amsterdam’s dynamic South Axis.”

With its prime location and innovative features, The Pulse is set to become a landmark development, further enhancing Amsterdam’s reputation as a hub for integrated urban living and business.