Greystar Real Estate Partners has acquired MB275 on behalf of one of its clients. MB275 is based in The Hague and is sold by UrbanTTP BV, a developer specialised in the development of rental apartment buildings and hotels in the Netherlands. The purchase price was not disclosed.
MB275 is an existing building developed by UrbanTTP containing 234 apartments, a GP practice, pharmacy and healthcare offices. The apartments are currently being furnished by Greystar into modern rental apartments for students and young professionals at an attractive, all-inclusive, price point. This will create 234 stylish studio and two-bedroom apartments which will be furnished with high-quality fittings. The site will feature state-of-the-art amenities including a gym, roof terrace, courtyard, garden, bicycle storage, car park, onsite security and a service desk. Supporting health and sustainable living, MB275 will also feature bicycle renting and electric shared car schemes which will be accessible via smartphone apps.
The scheme is located in the Leyenburg district, and benefits from easy access by public and private transport. Residents will have easy access to The Hague’s city centre, The Hague University, business district, beachfront and other important hubs for residents to work and socialise.
Mark Kuijpers, Managing Director of Greystar Netherlands, said: “The demand for well-managed, build-to-rent developments continues to rise across Europe and the Netherlands, driven by urban population growth, the growing number of single or two-person households, and the lack of attractive supply for the next generation of urban dwellers. MB275 marks the latest step from Greystar to provide critically-needed housing in the region as part of its European strategy, having already developed 5 sites in The Netherlands over the past 4 years. We have already seen significant resident interest in MB275 and look forward to officially launching early next year."
