Today COD/DUQER and Amvest Investment Management (for Aegon Nederland) have signed the transaction agreement for 816 rental dwellings, 20,000 sqm office space and facilities in SPOT Amsterdam. 108 of these are for rented social housing, 520 are mid-segment rental houses with a maximum rent of ?1,000 per month and 188 are private sector rentals. SPOT is situated at Hogehilweg in Amsterdam Zuid-Oost and is being newly developed by COD/DUQER. Capital Value advised COD/DUQER on the sale.
Amvest purchases 816 dwellings for AEGON from COD/DUQER in SPOT Amsterdam
Mid-segment living and working area
Assuming that an average household consists of 1.5 ? 2 people SPOT will offer new homes to 1,200 to 1,600 Amsterdam residents. Heleen Aarts, CEO of Amvest: “We are very pleased to be able to add so many dwellings to the Amsterdam residential market, which are accessible for a large group of people mainly in the mid-segment. It enables us to help Amsterdam to remain the welcoming, dynamic and multi-cultural city it is.”
Enno Otten, Director of COD: “This transaction reflects the market’s solid faith in the large scale transformation we have implemented in the area. From the early stage onwards we have been transparent about the target group and have drawn-up the master plan in consultation with the municipality of Amsterdam. We are very pleased that this kind of pioneering work appears to match Amvest’s ambition to invest in certain areas.”
About SPOT
SPOT means Superior Plan of Transformation. Currently there are virtually only office buildings on both sides of Hogehilweg in Amsterdam Zuidoost. COD and DUQER bought these premises in 2016 and in co-operation with Amvest they will be transformed into SPOT, a lively, mixed urban region. As such it will be the trendsetter of the biggest area transformation of Amsterdam, Amstel III. Osborne Clark rendered legal advice to Amvest in relation to this transaction and Loyens & Loeff assisted in fiscal matters. COD and DUQER were legally advised by Loyens & Loeff; DirkZwager Legal & Tax advised them on fiscal matters and Capital Value rendered commercial advice.
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