Reshape Properties sells 128 homes in The Hague to Amvest

ReShape Properties has sold the Juliana van Stolberglaan housing project to Amvest Investment Management. The project consists of four apartment buildings with a total of 128 apartments and 132 parking spaces. Amvest is incorporating the mid-range rental homes in the investment portfolio of one of its clients. Construction is expected to start this year.

Sven Mathijssen, partner at ReShape Properties: “This used to be where TNO was headquartered. Now, after an intensive collaborative process with local residents, we’ve been able to complete this wonderful project, which is a perfect fit for the neighbourhood. Bezuidenhout has a relatively large amount of outdated housing stock, so these new residential complexes are a welcome addition.”

The high-quality new homes are located in the popular Bezuidenhout-Midden residential area. The city centre and The Hague Central Station are just a stone’s throw away, and the neighbourhood is conveniently serviced by the RandstadRail network. With Theresiastraat right around the corner, daily shopping is within walking distance. The apartment buildings each have seven floors, featuring a number of different apartment types. Each apartment has a private outdoor space and external storage, and the average living area is approximately 94 sq. m. The buildings were designed by OPL Architects from Utrecht. Turnkey realization will be handled by Ballast Nedam, with completion of the project expected in 2021.

Robbert Arkenhout, Associate Director of Capital Markets at CBRE, says: “The Hague is a fast-growing city with a growing demand for rental apartments in the mid-price range. The location and philosophy of this project ensure that it will help meet this demand.”

CBRE’s Residential Capital Markets team advised ReShape Properties during the transaction.