Cookie Error:

Cookies deactivated. To use all functions on this portal, for example the login, Cookies must be activated. Please activate Cookies in your browser settings.

   
    Drucken Print 

Catella Fund buys resi „Project Twin“ in Amsterdam from Heitman

Catella Investment Management Benelux (CIMB) and Catella Residential Investment Management (CRIM) have acquired the ‘Project Twin’ residential complex in Osdorp, a suburb to the west of Amsterdam, from Heitman.
.
Create an email alert for:
Heitman
CRIM
Amsterdam
The two 11-storey buildings – Tower I and III – are located by a canal and park on the Jan van Zutphenstraat and comprise 196 mid-range rental apartments spread over approximately 20,000 sqm, as well as 208 parking spaces. The properties were purchased on behalf of an institutional mandate, managed by CRIM. Financial details were not disclosed.

Ralph Willems, Sr. Acquisition Manager CIMB, said: “These two assets are a perfect example of our residential investment strategy. The rental apartments are very affordable by Amsterdam standards, which is one of the strongest residential markets in the Netherlands. With inner-city house prices continuing to rise, a growing number of people are understandably moving away from urban centres and looking for affordable accommodation and more space on the outskirts of cities, a trend that has accelerated since the Covid-19 pandemic. We are confident these two properties will command a high level of interest, in particular from young professionals and families, thanks to their attractive location and close proximity to one of the most appealing and prosperous cities in the country.”

“During the past several years, we have focused extensively on investing in the Living Sectors across Europe, which encompass rented-residential, senior living, and student housing,. Heitman’s vast market knowledge and deep history investing in Amsterdam real estate allowed for us to implement our business plan ahead of schedule and deliver an attractive outcome for our investors in a market currently experiencing strong demand dynamics accompanied by shallow supply”, said Tony Smedley, Head of European Private Equity Heitman.

The ‘Project Twin’ residential complex is located in Osdorp, a suburb to the west of Amsterdam.
The two buildings were completed in 2007 and are part of a larger complex comprising two additional owner-occupied residential blocks - Tower II and IV. The residential complex is within walking distance from a wide range of amenities such as the Osdorpplein shopping centre, supermarkets, several primary and secondary schools and a number of local retailers.

The centre of Amsterdam can be reached within roughly 25 minutes by bike or public transportation. Osdorp also has good rail links to Schiphol International Airport and easy access to the A4 motorway connecting Amsterdam to The Hague and other cities in the Randstad conurbation in the west of the Netherlands, including Utrecht and Rotterdam, a region with over eight million inhabitants.

Catella was advised by Allen & Overy. Eastdil Secured and Greenberg Traurig acted on behalf of the seller.