Greystar, acting on behalf of the OurDomain platform, has acquired a c.37,000m² development site at the Merwedekanaalzone urban renewal area in Utrecht, the Netherlands. A joint project between the municipality and six private owners the area is currently being transformed into the new city district with 6.000 – 10.000 new homes. The deal fits in the long-term strategy of OurDomain in which Greystar is co-investor and manager on behalf of investors. The purchase price has not been disclosed.
OurDomain Utrecht Merwede will become a high-quality residential complex with rental apartments for a modern way of living. The project will feature such services and facilities as restaurants and cafes, retail, supermarket, pick-up points, a gym and other amenities.
Greystar acts as the property and asset manager of the OurDomain-platform. OurDomain Utrecht Merwede is expected to be operational by the end of 2023.