CBRE Global Investors has purchased around 1,400 residential units in Amsterdam in the Netherlands for a price exceeeding €400 mln.
The seller was Amsterdam-headquartered investor and asset manager Orange Capital Partners (OCP), in partnership with a US annuity fund and the Silverfern Group.
The portfolio includes the assets Change= and Delflandplein in Amsterdam West, the residential towers at the Waterlandplein in Noord, and several period buildings within the city center of Amsterdam.
'We are very pleased with the result, but equally we are sad that this marks the end of our first partnership,' said Victor van Bommel, CEO of Orange Capital Partners.
'In the past four years we have succeeded in building a unique portfolio in Amsterdam through a series of acquisitions. We have significantly improved the overall quality of the portfolio by investing heavily in energy efficiency and modernisation.'
OCP currently manages over €1 bn of assets in various partnerships with institutional investors, family offices and investment banks. Its total residential portfolio exceeds more than 3,000 units, of which more than 90% is located in the main cities of the Randstad.
Its convenience retail portfolio consists of around 40 neighbourhood shopping centres.
