Van Dijk & Ten Cate advises Amvest on the sale of 242 flats in the centre of Rotterdam to Urban Interest

Urban Interest acquired two complexes in the centre of Rotterdam from Amvest with Van Dijk & Ten Cate Real Estate Consultants supervising the sale. The complexes comprise a total of 242 flats on a plinth with commercial units, restaurants and garages.

The two complexes are located on Joost Banckertsplaats and form an L-shape around a green city garden. One side of the L-shape borders the Schouwburgplein with its theatres and restaurants, while the other side borders the well-known Lijnbaan shopping street. The complexes are located in the heart of the city centre with City Hall around the corner and Central Station within a few minutes’ walking distance.

The realized purchase price exceeds €70m.

Built in 1956, the complexes are an essential example of post-World War II reconstruction in the Netherlands. Due to its cultural-historical, architectural and urban-planning value, the property has been designated a national monument.

Urban Interest will add the properties to its portfolio. Despite the fact that the complexes have been split into flat rights, Urban Interest has indicated that it will keep the properties for the rental sector, renovating the vacant properties where necessary and making them more sustainable.

This sale again shows that subscriptions are no longer a foregone conclusion and that off-market deals can be successful for both buyers and sellers.

The seller was legally advised by BarentsKrans and commercial supervision was provided by Van Dijk & Ten Cate Real Estate Consultants.