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AEW acquires residential development in Amsterdam

AEW, a global real estate investment manager, has acquired a prime residential asset in the Oostenburg urban development project in Amsterdam.

The asset was acquired off-market through a forward funding agreement with developer Stadswerf Oostenburg Ontwikkeling (SOO) on behalf of a new mandate for a German insurance group.

De Amsterdam, which is due to complete in Q2 2022, will deliver 32 freehold apartments over four floors totalling 2,100 sq m. The asset will offer high quality, partially furnished units whilst benefitting from Grade A energy efficiency with solar panels on the roof and a thermal energy storage system. The one, two and three-bed apartments will have balconies and terraces, along with 12 unique indoor private boat garages.

The development is situated in Oostenburg, a former industrial area within close walking distance to the city centre and currently the biggest residential development scheme in central Amsterdam. The new neighbourhood will comprise approximately 2,000 dwellings, hotels, restaurants and office buildings, as well as new infrastructure to improve accessibility by public transport.

Source: propertyfundsworld.com on 23 February (https://www.propertyfundsworld.com/2021/02/23/296254/aew-acquires-residential-development-amsterdam)