At the most fundamental level, smart buildings deliver useful building services that make occupants productive. Smart asset management in hostipals starts with knowing the whereabouts of medical equipment. This paper investigates the subject of indoor localization of medical equipment in hospitals by defining functional spaces. In order to localize the assets indoors, a localization method is developed that takes into account several factors such as geometrical influences, characteristics of the Quuppa positioning system and obstructions in the indoor environment. For matching the position data to a real world location, several location types are developed by subdividing the floor plan into location clusters. The research has shown that a high-performance level can be achieved for locations that are within the high-resolution range of the receiver. The performance at the smallest subspaces can only be achieved when having a dense distribution of receivers. Test cases that were defined for specific situations in the test-area show successful localization in these subspaces for the majority of the test data.@en