05 Nov 2018
Bouwinvest has acquired 40 liberalised rental sector homes in the Jeruzalem neighbourhood of the Watergraafsmeer area on the eastern outskirts of Amsterdam from developer M.J. De Nijs for its Dutch Residential Fund. The homes are expected to particularly meet demand from families moving from the city centre to seek larger living spaces in a greener environment.
Jeruzalem is currently being revitalised by various parties under a series of renovation, demolition and construction programmes, as well as the redevelopment of public space. The neighbourhood is becoming more diversified with owner-occupied and rental homes, including single-family houses and apartments for both the elderly and families.
Michiel de Bruine, Director Dutch Residential Investments at Bouwinvest, said: “We prefer to invest in mixed residential areas with a range of social groups, because diverse neighbourhoods are generally more dynamic and successful. Jeruzalem is just such a place and is also benefitting from an influx of families from more central districts of Amsterdam looking for the leafier spaces that Watergraafsmeer has to offer.”
The new ‘Block G’ area of Jeruzalem that Bouwinvest has acquired, consists of a development of 38 single-family homes with an average floor area of 104 m2 and two apartments of 77 m2 and 108 m2. Completion is expected in the first quarter of 2020. De Nijs is concurrently also renovating another 40 owner-occupied homes in the adjusting block H.
The Bouwinvest Residential Fund already has 24 single-family homes in its portfolio located in the same area. The Bouwinvest Healthcare Fund also owns the nearby Van ‘t Hofflaan and Ritzema Bos homes. Two cared living facilities with 146 residents managed by the Amsta Foundation.