German asset manager Patrizia has acquired a new 10,710 m2 build-to-rent residential development on behalf of a pension fund based in northern Germany.
The completed project will comprise 110 units in the centrally located Dutch city of Amersfoort, about 50 km from Amsterdam, and will be delivered via a forward-funding deal with local developer Schipper Bosch. The energy-efficient property boasts a high level of sustainability features and was acquired after a targeted sales process led by JLL.
The development is located in Hof van Duurzaamheid, a new eco-district to the northeast of Amersfoort, and will provide 70 apartments and 40 single-family homes. The apartments have either a balcony or a rooftop terrace and include eight ‘Urban Villas’, ranging in size from 77 m2 to 86 m2. Construction is underway and the project is scheduled for completion by September 2022.
Rudo Mulder of the Patrizia transactions team, said: ‘This development has sustainability written all over it. As a forward-thinking partner to our clients and tenants, we like to invest in a thoughtful and sustainable way. This development ticks all the boxes: not only is this residential asset in the mid-range, a segment with lots of growth potential, but it is in the sweet spot between high quality, affordable and innovative.’
Karbouw has been appointed as the general contractor for the project. JLL acted as commercial advisor for Schipper Bosch.
