Union Investment is further expanding its strategic position in the European residential property market and has acquired a large part of the MIX Amsterdam development for its open-ended real estate fund UniImmo: Europa. The vendor is property developer MRP, which will continue to implement the project for Union Investment. The purchase price was not disclosed.
Six residential towers with heights ranging from 29 to 41 metres are set to be constructed at Osdorpplein 1000, on the site of the former municipal offices for Amsterdam Nieuw-West, with delivery targeted for the middle of the year in 2026. A total of 528 residential units will be created at the location, of which Union Investment has acquired 281, spread over four towers and with a combined rental space of 20,274 metres squared. The transaction also includes approximately 3,950 metres squared of commercial space on the ground and first floors and the entire underground car park with 382 parking spaces. Not included in the purchase are the municipal library, which extends over 3,923 metres squared, 162 social residential units in Tower 1, which are being sold to a local provider of social housing, and 85 units in Tower 6, which developer MRP will retain in its own holdings.
Source: Real estate Union Investment on the 4th of may 2023