PATRIZIA acquires Oranjekwartier residential scheme in Amsterdam
PATRIZIA Immobilien AG announces that it has acquired Oranjekwartier, a 164-unit fully let residential scheme in the Koningin Wilhelminaplein area of Amsterdam.
- Three buildings comprising 164 residential units and eight retail units
- Fully let property close to the centre and business district of Amsterdam
- Acquisition on behalf of two institutional investors as part of ‘buy and hold’ strategy
The asset was acquired for an amount of € 66 million on behalf of two institutional investors, as part of a ‘buy and hold’ strategy. The project was developed and maintained by Bouwconsulting Beheer BV, who is also the seller. “Based on these fundamentals we are pleased to have been able to acquire this attractive investment for our investors as part of our ongoing core strategy,” said Peter Helfrich, Country Head of PATRIZIA Netherlands.
Totalling ~18,000 sq m and at 13 floors, the landmark Oranjekwartier is one of the tallest buildings in the area. It was built in 2009 and consists of three separate buildings. Blocks A and C include ground level retail spaces, a kindergarten and a restaurant. The modern residential units range from 90-150 sq m and include fully equipped kitchens.
Oranjekwartier is located within the Westlandgracht area of Amsterdam, close to the popular neighbourhood of Oud-Zuid and the 47-acre public park, Vondelpark. Both the city centre of Amsterdam and the Zuidas business district are easily reached by public transport and car.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across 15 European countries for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As one of the leading real estate investment companies in Europe, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. Currently, the Company manages real estate assets worth more than EUR 19 billion, primarily as a portfolio manager and co-investor for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. For further information, please visit: www.patrizia.ag.