CBRE Global Investment Partners (CBRE GIP) and IC Netherlands (IC NL) have bought 429 apartments in Amsterdam.
The investors, via their Dutch Urban Living Venture (DULV) partnership, have paid an undisclosed amount to buy the recently completed residential element of the Don Bosco scheme.
DULV invests in newly built urban young professional accommodation in the Netherlands through forward funding turnkey purchase contracts.
Alexander van Riel, head of continental Europe investments, CBRE GIP, said: 鈥淭he growing demand for rental housing in a market with limited supply makes Don Bosco a particularly attractive investment, especially given its location in a vibrant and upcoming district with enduring appeal.
鈥淭his acquisition fits perfectly with our global strategy to establish programmatic ventures with sector specialists and we look forward to working with IC to unlock this high-quality asset鈥檚 significant potential.鈥�
Wouter van den Eijnden, CEO of IC Netherlands, said: 鈥淭he residential concept of Don Bosco is adding value to the renewing vision of Centrum Nieuw-West.
鈥淥ur generation Y and Z tenants are creating more diversity in this part of the city and our operating concept is facilitating the 鈥渕eet each other鈥� factor.鈥�
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