Toronto-headquartered European Residential REIT (Eres) has secured a loan of around €63 mln for a mixed-use property in Amsterdam from German lender Berlin Hyp.
The asset, dubbed De Kameleon, is located in Amsterdam Zuid Oost next to the Kraaienest metro station. The property comprises almost 10,000 m2 of retail space spread over 28 units, with supermarkets Albert Heijn and Aldi as the anchor tenants. It also includes around 22,000 m2 of residential space over 222 units.
The property also numbers 432 indoor parking spaces for retail and residential use.
Eres acquired the asset in December 2019. According to the REIT, €18.7 mln of the loan covers the retail portion, while €44.3 mln is secured against the residential units. Eres has fixed all-in mortgage interest rates of 1.45% and 1.64% on the retail and residential tranche, respectively.
The property was built in 2012 and nominated for the Amsterdam Architecture prize 2012-2013. Eres holds full ownership, and management of the property will be executed by Stedium and CanLiving.
