2 April 2019
Clifford Chance advises ASR and TU Delft on a new investment fund for financing commercial real estate on university campuses
Clifford Chance advised insurer ASR and TU Delft on the recently established investment fund ('Dutch Science Park Fund') for financing commercial real estate on university campuses. The aim is to finance real estate projects on the top ten university campuses in the coming years, starting at TU Delft. Our team advised both ASR and TU Delft on regulatory aspects of their cooperation. This is a unique new investment structure, aimed at bridging the gap between projects funded purely with public money and full private investments. ASR provides a solid funding base, whilst TU Delft is responsible for other elements of the business case, mainly related to a proper functioning of an attractive Campus environment.
ASR and TU Delft needed to make sure that the intended investment structure is compliant with applicable regulations in respect of State aid and public procurement law. Thomas Heijerman, Liesbeth Buiter and Jaap Koster provided the relevant advice on both subjects.