US property investor Greystar has acquired the Bright residential tower project in Rotterdam which will comprise 612 apartments on completion.
Greystar signed a contract at Expo Real on Wednesday with the municipality of Rotterdam and developer Stebru Vastgoed Rotterdam to develop and build the 30,000 m2 tower. Construction is due to start in late 2016.
The building will be located in the heart of the old part of Rotterdam, which was completely destroyed during World War II.
In addition to 612 full-service apartments, the tower will encompass a gym, library, lounge area and laundry. The property will also include a restaurant with terrace on Wijnhaven street as well as commercial property on Blaak, overlooking the Markthal (market hall) and Rotterdam’s cube houses.
Steven Zeeman, managing director of Greystar, said: ‘We are proud to be collaborating with Stebru Vastgoed Rotterdam on developing a new generation of rental properties for starters and young professionals. This Blaak location is one of the best locations in the city centre of Rotterdam, as it is in the proximity of the Erasmus University, restaurants in the ‘Oude Haven’ (Old Harbour) and the beautiful ‘Markthal’ (Market Hall). Being located just a stone’s throw from Blaak, Rotterdam’s public transport hub, it is the perfect location for young people to live in and work at.’
