CBRE has advised Union Investment on acquisition Urban Villas
AM and Blauwhoed sold the 173 unit residential development Urban Villas in Amsterdam North to Union Investment.
Union Investment has acquired four high-quality apartment buildings from CZAN Rood, a development combination of AM and Blauwhoed. The four iconic building blocks comprise 173 rental apartments with a total area of approximately 12,300 sq m (average 71 sq m). The apartments vary in size from approximately 42 sq m to 122 sq m and are intended for the non-regulated residential rental sector.
The buildings are connected by a spacious car park with 195 parking spaces for the entire Zuidbuurt, of which 69 have been purchased by Union Investment. The buildings comply with the latest energy regulations and are almost energy-neutral (BENG). The project is expected to be completed in early 2024 and will be built by contractor Bot Bouw.
Urban Villas is located in the new residential area Elzenhagen South, a prime location in Amsterdam North. Elzenhagen South is part of 'Centrumgebied Amsterdam Noord': a completely new urban district situated around the new Noord-Zuid metro line station. This former sports field will be transformed in the coming years into an urban residential area with facilities, greenery and 1,800 homes in both the rental and owner-occupied sectors.
The broader Urban Villas development consists of 16 villas with a total of 375 apartments and single family homes situated in park-like surroundings. Each of the four villas acquired by Union was designed by a different architectural firm, creating a unique composition of buildings..
The purchase of Urban Villas forms part of Union Investment's European housing strategy and is their first residential transaction with a forward funding structure. With this acquisition Union makes another important contribution to reducing the significant housing shortage in the Netherlands.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company with headquarters in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company employs more than 100,000 people worldwide and provides services in over 100 countries. CBRE offers strategic advice and guidance in property sales and leasing; corporate services; property, facilities and project management; appraisal and valuation; development services; investment management; and research and consulting. Please visit our websites at www.cbre.nl and www.cbre.com.