INTERVIEW WITH ERIK MORESCO, FOUNDER AND MANAGING PARTNER OF VICTORY GROUP

VICTORY GROUP’S MASTER PLAN CENTERS ON BECOMING AN INTEGRAL PART OF ZUIDAS

Erik Moresco combines a diverse background with experience in investment banking and real estate. With roots from the United States as well as the Netherlands Erik has always had a connection here. He grew up around the world but decided to settle down in Europe. After a rich career overseeing multiple projects in different countries Erik wanted to take the reins. During the financial crisis, he founded Victory. After a successful redevelopment of Zuidas Atrium from 2013 to 2017, Victory Group is back to take on the major redevelopment of the former ABN AMRO complex. A Masterplan by Icon Real Estate – part of Victory - starting off with building Mahler 1. This sustainable and innovative building embodies Amsterdam’s future proof vision and will be the next icon in Zuidas.

Erik, could you start by telling us a bit more about your career?
“I started out working in investment banking, moving into real estate investment later on. While living in London, I returned to the Netherlands in 1999 as part of a Morgan Stanley team, advising APG (then ABP) on their real estate. Later, I worked with Blackstone, overseeing nine countries, including the Netherlands and thereby also witnessed Amsterdam’s evolution. Personally, I think Zuidas is an astonishing part of Amsterdam. It’s beautiful to see how this area is continuously evolving and I am proud that our team is a part of that.”

What led to the decision of starting your own firm Victory Group?
“In 2005-07, the real estate investment world was booming, but I saw some irrationality in the market. I fortunately sold all assets under my responsibility six months before the crisis, avoiding significant losses. Some investors had approached me, suggesting I start my own firm. This encouragement led to the founding of Victory during the worst financial crisis since the Great Depression. The name ‘Victory’ symbolises optimism in dark times. Despite the challenging environment, we were able to successfully raise a fund and identified investment opportunities leading to significant acquisitions, including the Atrium in 2013.”

 What would you say are the core values of Victory Group?
“Victory is about personal involvement and selectivity. One of the things that I always really enjoy is being personally involved in what we’re doing and in making decisions within our real estate investment projects. One of Victory’s core values is a focus on sustainability, in terms of both materials and humanity. Our goal is to handle transactions of any size, without being forced to grow larger. Being able to work on transactions while keeping our team small means that we can be very selective in terms of employees, investors and our investments. I think this is the key: that we stay personally involved in the transactions.”

Victory is working on a massive project for the former ABN AMRO premises. Can you tell us something about the vision behind this project?
“I am proud that we were able to acquire the ABN AMRO complex, including the adjacent Circl pavilion on Gustav Mahlerplein. On this specific spot, Mahler 1 will rise, a multifunctional building with a broad mix of functions. This is a building that prioritises human sustainability, underpinned by behavioural design and extensive embedded biodiversity. You will see and feel this everywhere in the building, in the offices, commercial and social functions, various public amenities, and in the vibrant ground floor plinth. The redevelopment has started with dismantling instead of demolishing, which sets the standard for what’s to come. With this entire project we want to contribute to Amsterdam’s forwardthinking vision, aiming to transform the city into a multi-core metropolis. Mahler 1 is the result of a collaboration between Icon Real Estate, development firm LMTD, the renowned Danish architectural firm 3XN and GXN, and Erik Dhont Landscape Architects. It’s built using natural materials or those mimicing the natural environment, and will incorporate things like aesthetic solar panels.”

The master plan also aims to promote a sense of community. How do you intend to accomplish this?
“Victory also offers innovative services to enhance the work experience. Our master plan will incorporate a range of hospitality venues, creating an inviting setting by activating the building’s base and by supporting entrepreneurs and the local community. Openness and accessibility are crucial, I think, specifically for this location, as it’s the heart of Zuidas. The whole idea is to be an essential part of Zuidas.”

How is Mahler 1 shaping the future of urban development in Amsterdam? “Victory’s Mahler 1 building promises to be a ground-breaking project that combines sustainability, innovation and community spirit. Our team will continue to pioneer in Zuidas and pave the way for urban development that respects history and has an optimistic outlook. I think Amsterdam continues to be an amazing place in today’s world, especially from a business perspective.” 

FACTS & FIGURES
• 15 story building
• 24,000 sqm GFA offices
• 1,500 sqm GFA amenities
• Average 1,600 sqm GFA floorplates
• 2.9 m floor-to-ceiling height
• Focus on human sustainability & biophilic design
• Delivery date H2 2027