CBRE Global Investors and Boelens de Gruyter win ‘Amstelkwartier 4H’ tender

Friday 10 June 2016

The Municipality of Amsterdam has selected CBRE Global Investors and Boelens de Gruyter for the development of housing in Block 4H in the Amstelkwartier district. Boelens de Gruyter will at this location develop an apartment complex including commercial space on the ground floor for addition to the CBRE Dutch Residential Fund. Realisation is expected to start in 2017.

Amstelkwartier forms part of the Overamstel residential/working area. Its unique location along the River Amstel, the proximity of the city centre, excellent accessibility by public transport and the presence of cultural-historic elements make this new urban district a highly attractive region. According to Maarten de Gruyter, director of Boelens de Gruyter, this location is very popular: “Demand for midprice rental housing is strong, especially at a high-quality location such as this”.

This acquisition further expands the Amsterdam housing portfolio of the CBRE Dutch Residential. Besides being an attractive location, this newbuild development also reflects the sustainability ambitions of the fund. Paul Oremus, Fund Manager: “This newbuild development with an EPC of 0.15 and rent maximised at EUR 971 per month is a very welcome addition to our housing portfolio. This project underlines our commitment to the long-term letting of affordable midprice housing. What's more, the low energy performance coefficient contributes towards realizing the sustainability targets of our fund."

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