GARBE Institutional Capital has acquired a recently completed apartment building with 13,500m² of GLA across 219 units in Schiedam, a municipality which is part of the Rotterdam metropolitan area. The building will be part of the “GARBE European Residential Fund” (GARBE EUResi). The property is situated at s-Gravelandseweg 565-1065 adjacent to the historical city centre of Schiedam and is excellently connected within the Rotterdam public transport network. Centrally located within the A20 Rotterdam city ring and at short biking distance to the Rotterdam city centre.
The apartment building is a high-quality transformation from a former office building, delivered in 2021 and called ‘SCYE010’. The apartments are positioned in the mid-price segment and are fully let. The transformation includes new facades, new installations and new apartments. The installations include heat and cold storage as well as solar panels, resulting in high energy efficient A+ label according to Dutch energy efficiency standards. The 157 parking spaces include several charging stations.
Michiel Dubois, Managing Director at GARBE Institutional Capital, said: “The apartments provide affordable living space within the Rotterdam urban agglomeration which has a pronounced housing shortage. With projected population growth of over 20 % until 2050, housing demand in Schiedam outstrips the national average (at 11.5 %). With this sustainable high-quality transformation, a huge amount of CO2 has been preserved. In combination with affordable rents and its excellent location, we are convinced of the assets’ sustainability.”
