10 May 2022
Real estate developer VORM has sold the KOER project, located in Rotterdam South, to the Bouwinvest Residential Fund. Of the 89 apartments, 60% will be targeted towards the mid-rental segment.
The project KOER is located on the ‘Laan op Zuid’ in Rotterdam and consists of 79 owned apartments that are all currently occupied, in addition to the 89 rental apartments and the commercial spaces purchased by the Residential Fund. The plan is aimed at various target groups and designed as a closed building block, with a collective inner garden in the middle. The apartments will also be delivered in a sustainable manner, with the installation of additional solar panels, connection to district heating and the use of circular materials.
Rotterdam South, as an area, has developed strongly in recent years with regards to housing and quality of life. In the immediate vicinity of KOER there are a wide range of amenities. The project is also conveniently located for the center of Rotterdam and is easily accessible by car and public transport.
Michiel de Bruine, Director Dutch Residential Investments: “Rotterdam has high demand for housing and the Residential Fund’s portfolio has grown strongly here in recent years with projects such as Little C, UpTown, Reijssendaal-Noord and Diepeveen. The KOER complex is a good addition to this and shows that we can realise sustainable and affordable housing with capital from pension funds.
Thomas van den Doel, Development Manager VORM: “As a Rotterdam-based property developer, we are extra proud to build and develop real estate in our own city. With KOER, we are adding homes for various target groups and contributing to the city's overall biodiversity. As an inclusive complex, KOER offers room for a long living period.”
KOER is expected to be completed and delivered in the third quarter of 2024.