Bouwinvest acquires hotel Amsteltower

Amsteltower

Bouwinvest has acquired the hotel in building 'the Amsteltower' in Amsterdam from Provast. The property with 186 rooms is located in the lower six floors of the building, and will be placed in the Bouwinvest Hotel Fund.

"This acquisition is a superb addition to our hotel portfolio in Amsterdam. Through a 25-year contract with Meininger as strong hotel operator in the three-star segment, it is a stable investment. And this in a highly accessible location in the strongest hotel city in the Netherlands, "said Bas Jochims, Head Asset Management Offices / Hotels Bouwinvest.

CBRE Hotels and Loyens & Loeff Provast advised on the sale of the hotel. At the end of 2013 Provast won the tender issued by the municipality of Amsterdam for this location. The start of the construction is scheduled in end of this year, the completion late 2017. The project involves an investment of 66 million euros.

The 192 apartments in the hundred meter high tower in development, have already been sold to Vesteda. The project also includes a parking garage with 171 places and facilities with a gross leasable area of ​​175 m2. The municipality would like to build a new bus station on the roof of the parking garage,