Patrizia AG, on behalf of clients, has acquired a turnkey residential development in Amsterdam from Biesterbos Groep, a Dutch real estate investor and conceptual developer.
The development, which is on the waterfront in NDMA area of Amsterdam Noord was previously the largest shipyard in Europe. It will now be transformed into a vibrant, high density urban area with a unique and historical industrial character.
“The NDSM district is one of the most exciting areas of the city and is undergoing significant regeneration, which we expect will see it further established as an attractive location for residents and businesses alike over the long term.”Emile Poort, Head of Transactions Benelux, Patrizia
The site is home to companies including Greenpeace and Red Bull – and it has restaurants, shops and other amenities. The city centre is 15 minutes away by free ferry transport, and is also easily accessible via bus, bike and metro connections. The Build to Rent scheme is set to complete in autumn 2020 and will comprise of around 7,760 sqm of rental accommodation.
“This investment provides our clients with access to a modern, high quality development in a sought-after location of Amsterdam where residential demand is rising.
“The long-term fundamentals underpinning demand for good quality rental accommodation will remain, despite the current challenges posed by coronavirus.”Emile Poort, Head of Transactions Benelux, Patrizia
Patrizia has 36 years’ experience of investing in Europe’s residential sector – in its most exciting metropolitan areas. Housing demand – including for Build to Rent – surpasses macroeconomic or political volatility because of urbanisation and population growth. Patrizia was also one of the launch partners for the Build to Rent internet certification scheme in Dublin – provided by the WiredScore Home programme.