PATRIZIA acquires Oranjekwartier residential scheme in Amsterdam
PATRIZIA Immobilien AG announced that it has acquired Oranjekwartier, a 164-unit fully let residential scheme in the Koningin Wilhelminaplein area of Amsterdam. The asset was acquired for an amount of € 66 million on behalf of two institutional investors, as part of a ‘buy and hold’ strategy. The project was developed and maintained by Bouwconsulting Beheer BV, who is also the seller. “Based on these fundamentals we are pleased to have been able to acquire this attractive investment for our investors as part of our ongoing core strategy,” said Peter Helfrich, Country Head of PATRIZIA Netherlands.
Totalling ~18,000 sq m and at 13 floors, the landmark Oranjekwartier is one of the tallest buildings in the area. It was built in 2009 and consists of three separate buildings. Blocks A and C include ground level retail spaces, a kindergarten and a restaurant. The modern residential units range from 90-150 sq m and include fully equipped kitchens.
Oranjekwartier is located within the Westlandgracht area of Amsterdam, close to the popular neighbourhood of Oud-Zuid and the 47-acre public park, Vondelpark. Both the city centre of Amsterdam and the Zuidas business district are easily reached by public transport and car.