Dutch property investment firm Altera Vastgoed has agreed the purchase of 125 apartments in Zaandam, the Netherlands, from a development venture between Stebru and Impact Vastgoed.
Financial details were not disclosed.
The urban development De Zaanse Helden consists of various residential buildings, a rooftop garden and an underground parking facility based on a design by Havermans Hielkema Architecten. The deal follows the firm's acquisition of 231 apartments in the scheme's first phase in 2018.
Altera’s new acquisition concerns a total of 356 apartments spread across five buildings, 310 parking spaces and bicycle storage facilities. The apartments are between 52 and 108 m2, have one or two bedrooms and feature either a terrace or balcony.
Altera’s CEO, Jaap van der Bijl, said: 'Zaanse Helden offers families, senior citizens, first-time buyers and buyers moving up the housing ladder a future-proof residential product in the Zaandam housing market.
'With the acquisition of phase 2 and construction expected to begin in 2021, a sustainable residential area is created bordering on Amsterdam. This makes the project an excellent fit for our residential portfolio.'
According to Altera, the project is fitted with solar panels, a thermal energy storage facility, heat exchanger and a low EPC.
Robert Steenbrugge of Stebru and Philip van der Ent of Impact Vastgoed said: 'We are proud of the fact that, thanks to the city council’s recently adopted zoning plan and this high-quality nature-inclusive plan, we have been able to sell more than half of the residential properties to Altera.
'Parteon plans to acquire 163 units for social housing, and 88 owner-occupier homes will be put on the market.'
The project comprises ten apartment complexes with a grand total of 607 apartments.
Fakton Capital advised Altera.
