Hines buys into Amsterdam regeneration area

Real estate investor Hines has bought a mixed residential/office development in Amsterdam’s former shipping docklands, now an area of regeneration.

The firm will forward fund the development, which will consist of 208 rental apartments, 1,600 sqm of office space, and 800 sqm of ground floor commercial space for retail. The cost of the acquisition hasn’t been disclosed.

Designed by architecture firm Moke, the site will comprise an 18-storey residential tower and a 7-storey office building expected to be finished by the end of 2022.

The development was acquired from Dutch firm BMB ontwikkeling, part of construction group VolkerWessels, and Reggeborgh Vastgoed, a private investment company.

Several developments have already been completed in the NDSM area, where the site is located, including new homes, bars and restaurants.

Peter Epping, senior managing director and fund manager at Hines, said: “This is an exciting new development in an emerging part of Amsterdam, with strong long-term prospects as the area continues to develop and grow.

© 2020 funds europe

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