Bouwinvest Dutch Institutional Residential Fund, the largest investor in residential properties in the Netherlands on an unleveraged basis, has agreed to acquire 177 apartments to be built from the first half of 2015 in the Zijdebalen development in Utrecht for an undisclosed amount. Bouwinvest signed the agreement with real estate developers Hurks and Van Wijnen Project Development at the international real estate fair EXPO Real in Munich.
Allard van Spaandonk, Bouwinvest Director for the Netherlands said: “These apartments will be marketed in the liberalized rental sector, offering a range of living space to suit the needs of all kinds of tenants. Through this project, we are contributing to the urban transformation of an important part of the city center of Utrecht. Some 30% of the project is made up of rental starter homes, of which there is a great need in Utrecht.”
Hurks Real Estate Development Van Wijnen Project Development West said the agreement with Bouwinvest will allow them to proceed with the project of building 235 homes to make Zijdebalen a lively and dynamic area that enriches the city of Utrecht.
The Bouwinvest fund’s rental apartments will be located in blocks 1 and 2 of Zijdebalen, offering rental accommodation ranging from starter homes of 65 m², spacious city apartments of 80-100 m² to several top-apartments of 130 m². The apartments will be built over semi-subterranean garages.