Two funds managed by ASR Real Estate have agreed to acquire the Three House mixed-use development project in the Dutch city of Rotterdam.
Landlord Provast is developing this sustainable office, retail and residential building on Delftseplein, right next to Rotterdam Central Station. The asset, covering a total of 41,000 m2, will require an investment of €200 mln.
It includes 17,000 m2 of office and commercial space, in addition to 275 residential units.
The ASR Dutch Mobility Office Fund will purchase the office and the commercial part while the ASR Dutch Core Residential Fund will acquire 168 homes for rent in the mid-priced segment, 85 of which form part of the City of Rotterdam’s Mid-Priced Rental Sector Action Plan.
Rising to a height of 130 metres, Tree House makes a captivating addition to the Rotterdam skyline when completed in 2025. The office section will be delivered with a BREAAM Outstanding certificate.
CBRE and Loyens & Loeff advised Provast on this transaction, while a.s.r. real estate was advised by Van Gool Elburg, with legal advice from Houthoff.
