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Redevco acquires sustainable housing development in Amstelveen from AM

Redevco, one of Europe’s largest privately-owned real estate investment managers, has expanded its residential portfolio through an agreement with Dutch developer AM to purchase 172 rental apartments with parking spaces, and a commercial unit, in Amstelveen in the southern Greater Amsterdam area. 

The ‘Hollandse Meesters’ project consists of two residential towers with 131 owner-occupied homes alongside the rental apartments and will arise on an attractive site where an office building is currently located. The development, designed to high sustainability levels, will be positioned in the mid-market rental segment where there is an acute shortage of available accommodation in the Amsterdam region.

Robert Bakker, Development Manager at Redevco Netherlands, says: “This project further highlights our diversification strategy and focus on liveable and sustainable urban areas in Europe’s most attractive cities. Hollandse Meesters offers high-quality multifunctional rental apartments with amenities including a communal courtyard, roof terrace, and bike and car sharing facilities. It will give a former office location a new lease on life and create new sustainable homes in an area where there is a huge housing shortage.”

Peter Heuvelink, Director AM Noordwest, adds: “Hollandse Meesters is an example of AM’s core focus on diverse neighbourhoods and good living through the development of homes in an attractive and liveable environment that remain affordable for local residents.”

Source: propertyfundsworld.com on the 23rd of November