CBRE Global Investors has acquired two rental apartment complexes in the Netherlands for a total of €90 mln.

CBRE Global Investors has acquired two rental apartment complexes in the Netherlands for a total of €90 mln.

The transactions were announced at the Provada real estate fair in Amsterdam this week.

On Tuesday CBRE GI signed an agreement at Provada to acquire the CoolTower development from Dutch developer Jan Ultee. CoolTower, comprising 180 mid-segment rental apartments, will be held by CBRE GI's Dutch Residential Fund.

Paul Oremus, manager of the fund and head of CBRE GI's Dutch operations, said: 'Now that we have sold a considerable part of our portfolio we are ready to start buying again. We are working from an early stage with developers to acquire newbuild assets.'

On Wednesday the fund agreed to buy the 'Rhapsody in West' project in the New West district of Amsterdam. 'Rhapsody in West' comprises 250 mid-segment rental apartments spread over five buildings. PropertyEU Research estimates the investment volume at €45 mln.