CBRE Global Investors acquires 238 apartments in high end residential tower in Rotterdam

CBRE Global Investors, on behalf of the CBRE Dutch Residential Fund and one of its separate account clients, acquires 238 apartments, the commercial space and parking places in the garage of the building at the Boompjes 55-58 in Rotterdam.

The existing office building of approximately 12,000 sqm is located in a prominent place on the Maas river in Rotterdam and is being redeveloped into 344 apartments, commercial space for hospitality and/or other facilities of 1050 sqm and a parking garage with 210 parking places. First Sponsor Group Limited from Singapore and Provast are the developers’ op the project, OZ architects has created the design. The remaining 86 apartments will be sold separately by the developers and will be owner-occupied apartments. Construction will start in the first quarter of 2017.

A wide variety of apartments will be developed, meeting the requirements of a wide audience, offering modern, flexible townhouses. From the terraces, along the entire width of all apartments, there will be a spectacular view of the city and the Maas river. At the ground floor level of the building there will be various facilities such as a restaurant, also with an outside terrace.

Neo Teck Pheng, Group CEO at First Sponsor Group Limited: “We are happy to have this opportunity to work with CBRE Global Investors and Provast and to bring this redevelopment project to this phase at such speed. We look forward to a smooth delivery and more cooperation going forward.”

Team First Sponsor/Provast was advised by Loyens & Loeff and CBRE. CBRE Global Investors was supported by Houthoff Buruma.