Bouwinvest unveils acquisition of 700 housing units across the Netherlands at Provada
Institutional real estate investment manager Bouwinvest unveiled its latest acquisition and rental milestones at the Provada trade fair in Amsterdam between May 30th to June 1st. Bouwinvest has sealed deals covering 700 homes in the mid-level liberalised rental housing segment in the central and southern Netherlands for its Residential Fund, while also making a landmark hotel acquisition in the capital and signing rental contracts for The Olympic Amsterdam and WTC Rotterdam office assets.
Bouwinvest has consolidated its presence in the residential markets in Holland Metropole and in the southern province of Brabant.
In Utrecht, Bouwinvest signed an agreement for the construction of project Van der Marckhof, consisting of 46 family homes within cycling reach of the centre, as well as a turnkey purchase agreement for project Zijdebalen for 52 apartments. Another 126 homes for the mid-range liberalised rental sector have been the subject of a similar turnkey agreement under project Haarzicht in nearby Vleuten.
In Hoofddorp, near Schiphol Airport, another 134 highly sustainable English Tudor-style homes have been commissioned on a turnkey basis for the Tudor Park project.
Moreover, a strong focus on the province of North Brabant has evolved from the conviction that the region is experiencing strong economic and demographic growth, which is driving residential demand. Residential real estate in the province is therefore an excellent complement to the diversified portfolio of the Residential Fund. Bouwinvest has signed a framework agreement for at least 300 homes of which most will be built in the larger towns of Breda and Eindhoven as well as in Nuenen, Oosterhout, Vlijmen and Helmond. In line with this agenda, Bouwinvest has also purchased 60 apartments in Oisterwijk, to the Northeast of the town of Tilburg. The housing units are part of a development area which combines new builds with industrial heritage buildings, in the centre of the town.
This week at Provada, the Bouwinvest Office Fund is also finalising its rental contracts for The Olympic Amsterdam with urban bistro MaMa Kelly, expected to open its doors to the public in September. In the 1962 building at The Olympic, restaurant NENI will also open its 1,130 sqm first ever Dutch venue in September 2018.
In Rotterdam, financial Real Estate strategy consultant Fakton will be moving to the completely refurbished 22nd floor of the building, which is undergoing upgrading works to make it more sustainable and attractive.
The Bouwinvest Hotel Fund has signed an agreement for the purchase of the Boot & Co Hotel, a unique new build with an architectural style emulating the Amsterdam School, which fits well within the Houthaven (timber dock) neighbourhood. The asset includes 84 homely hotel rooms has a total surface area of 7,798 sqm. The highly sustainable building is expected to be completed by early 2019.
The Bouwinvest Retail Fund announced the acquisition of a shopping centre in Oosterheem in Zoetermeer. Seller Wereldhave announced the sale in its quarterly report.