CBRE Global Investors has acquired a prime residential portfolio in Amsterdam, the Netherlands, on behalf of a pan-European fund. Financial details were not disclosed.
The portfolio comprises over 140 apartments and commercial units. The apartments are partly leased out in the private rental sector and in the regulated segment. All dwellings have full occupancy due to the high demand for residential property in Amsterdam.
Composed of pre-war buildings dating back to the 1920s and the 1930s, all properties within the portfolio are located in or near the historical centre of Amsterdam, the strongest residential location in the Netherlands.
Alexander Tiel, transaction manager residential, CBRE Global Investors, said: ‘This is a great opportunity to acquire a high-quality residential portfolio with assets spread across some of the city’s best locations. The demographic and economic outlook for Amsterdam continues to be strong, with a 1.5% annual population growth and a housing shortage of 10% predicted until 2030. Our team has a proven track record of executing the investment plan of maximising and refurbishing historical apartments in Amsterdam and is well suited to unlock the untapped potential within this portfolio.’
CBRE Global Investors is a major investor in residential with €8.2 bn residential assets under management across Europe including Germany, Netherlands, UK, France and Spain.
In 2020, CBRE Global Investors’ residential platform invested €1.8 bn into the sector.
