Union Investment is expanding its partnership with Staycity. The Irish aparthotel operator is set to create long-stay residential units in the YVIE mixed-use project currently under construction by Union Investment in the fast-growing district of Overhoeks, North Amsterdam. From May 2024, Staycity will operate 120 rooms across a total of some 7,000m² on floors 3–10 of the 31-storey residential tower, one of the two buildings that make up the YVIE ensemble. The other floors of the residential tower will accommodate 176 rental apartments, which are being marketed directly by Union Investment. The lease signed with Staycity has a term of 25 years. Entry into the Dutch market brings the number of hotels in Staycity’s portfolio to 33.
“We have great confidence in the innovative capacity and resilience of this successful asset class, and are keen to work with strong operators to expand our long-stay provision. We are particularly interested in concepts that can be successfully integrated into mixed-use projects like YVIE,” said Thorsten Purkus, Head of Asset Management Hospitality International at Union Investment. Staycity will also provide concierge services, a coffee bar, a gym and a roof terrace for the future residential and office tenants of the YVIE complex.
“With our Wilde properties currently in Berlin, London, Edinburgh and Manchester, Amsterdam is the perfect addition to the portfolio, particularly this spectacular building in such a vibrant, up-and-coming area,” commented Staycity Group CEO and co-founder Tom Walsh. “Staycity now has nearly 6,000 apartments across 33 properties with our growth plans soon to take in Portugal as well as additional sites in London, Paris, and Munich so we’re delighted to be adding the Netherlands to our fast-expanding estate.”
Markus Beike, Staycity’s development director Germany and CEE, said: “We are very excited to be partnering with Union Investment on this landmark property in one of Europe’s most popular cities. Wilde offers something a little bit different, appealing to both business and leisure travelers looking for great quality, contemporary self-catering apartments that stand out from the crowd – the perfect fit for this sophisticated location.”