Hamburg / Amsterdam, 13 December 2021. GARBE Institutional Capital has acquired the residential development IVY from Dutch developer BLVG Ontwikkeling on behalf of an institutional real estate investment fund. The 45-meter high rise in Amsterdam’s district North has a total of 9,791 m² of GLA. The parties have agreed not to disclose the purchase price. The transaction marks the start of GARBE Institutional Capital's expansion as an ESG-focused European platform for residential real estate investments.
Upon completion in mid-2024, IVY will comprise 157 rental apartments in the lower, medium and free market segments, 49 housing units (master lease with the municipality of Amsterdam) and 1.165 m² of commercial space on the ground floor. The project also includes 34 car parking spaces as well as parking for 630 bicycles and electric scooters in the basement. The green courtyard is fully accessible and provides meeting places for future tenants. IVY was designed by Burton Hamfelt Urban Architecture and meets high sustainability standards: In addition to the green façade and a water retainment basin, the building has a very low energy consumption according to the Dutch Energy Performance Certificate (EPC). The project is located in Klaprozenweg at the entrance to the new Klaprozenbuurt residential district, where more than 2,000 residential units are being built.
Michiel Dubois, Managing Director and responsible for the Dutch market at GARBE Institutional Capital, says: "GARBE stands for more than 50 years of successful real estate investments. This transaction emphasises our excellent access to high-quality real estate in relevant European markets. With IVY we acquire a high-quality property in a very good location that meets high ESG standards."