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AXA IM - Real Assets and ATP acquire a large scale hotel development in Amsterdam

AXA Investment Managers - Real Assets has completed, in a 50/50 joint venture between ATP, Denmark's largest Pension Fund, and AXA Insurance Companies, the acquisition, by way of a forward purchase, of a hotel development in Amsterdam from COD who are developing the project jointly with Being Development.Construction started in September 2016 with the sheet piling and the two layer underground parking garage, and the completion of what will be Benelux's largest hotel by room number is expected in the second half of 2019. Designed by renowned architecture firm OMA (founded by Rem Koolhaas), the 650-room, 4-star premium lifestyle, aiming to be BREEAM Excellent certified hotel will comprise conference facilities, a wellness centre, skybar & re...[…]