Vesteda adds further 94 apartments to Arnhem portfolio
Vesteda and construction firm Vastbouw have signed a turnkey agreement for a total of 94 apartments in Arnhem. The project ‘Langs de Rijn’ consists of two apartment buildings and is located in the Malburgen neighbourhood. The project is a former development of the Volkshuisvesting Arnhem housing corporation. In close cooperation with Vastbouw, Vesteda has developed what it believes is the best residential product possible. We expect delivery of the project in the second quarter of 2018.
Pieter Knauff, director Acquisitions at Vesteda: "The project is an excellent addition to our existing residential portfolio in Arnhem. The city is one of our core regions and the acquisition of this project broadens and rejuvenates our residential offering in the mid-rental segment.”
The image of the Malburgen neighbourhood has markedly improved in recent years, thanks to the realisation of various renovation and new-build projects. The area offers excellent access and wide range of amenities. The Langs de Rijn project has wonderful views, stretching from the dyke right across the green floodplains. The complex comprises 94 apartments divided across two towers, with a parking facility in between. The apartments have an average surface area of 85 m2.
Vesteda is an investor with a clear focus on the Dutch residential real estate market. Vesteda invests funds for institutional investors, including pension funds and insurers. Vesteda has total capital of approx. €4 billion invested in real estate. The company’s rental portfolio stands at a total of around 22,750 units. Vesteda’s key investment regions are the Randstad and the Brabantine City Row. In 2015, Vesteda generated a net result of €316 million, with approx. 200 employees.