Meijer Realty Partners acquires a.s.r.’s real estate development business
a.s.r. and Meijer Realty Partners (MRP) have agreed that MRP will acquire a.s.r. Vastgoed Ontwikkeling, a.s.r.’s real estate development business. a.s.r. will still complete a number of projects that are in the advanced stages of development.
With the acquisition of a.s.r. Vastgoed Ontwikkeling, MRP will take over the following property developments : De Zuid Norfolk in Scheveningen, the redevelopment of Kruisvaartkade in Utrecht, the next stages of the Meerrijk residential development in Eindhoven, Catharinasteeg/Aalmarkt in Leiden, Osdorpplein in Amsterdam, Prisma Bedrijvenpark in Bleiswijk, Oosterheem in Zoetermeer and the redevelopment project for Post Utrecht of the former post office at Neude in Utrecht.
a.s.r. will complete and/or sell the remaining property developments of a.s.r. Vastgoed Ontwikkeling, including Leidsche Rijn Centrum, Centrumplan Waddinxveen and various land holdings. These developments have been transferred to a new entity by the name of a.s.r. Vastgoed Projecten, which will be led by Dick Gort. a.s.r. will not undertake any new real estate developments.
Michel Verwoest, member of the a.s.r. Executive Board: ‘a.s.r. has defined insurance and asset management services as its core activities. In August 2015, we announced that we no longer considered real estate development as one of our strategic core activities and that we would start the search for a suitable buyer. We have found the right partner in MRP. It has vast experience in real estate and real estate development, and is highly ambitious. I am confident that the employees and development projects are in good hands with MRP.’
Bart Meijer, CEO of Meijer Realty Partners: ‘We are more than delighted with the planned acquisition of a.s.r. Vastgoed Ontwikkeling. It is a great business with a history of successful and creative property development projects throughout the Netherlands. We are looking forward to welcoming our new colleagues and jointly continue this trend. I am convinced that, by combining the long-standing experience and reputation of Meijer Realty Partners with the strengths of a.s.r. Vastgoed Ontwikkeling, we can build a successful new business.’
The company will be transferred at the end of April 2016. The parties have agreed that the acquisition price will not be disclosed.