On March 11, 2020, the newly completed residential building Block 20, located in the attractive Holland Park development area, was handed over to Primevest Capital Partners which acts on behalf of a German pension fund.
The property in Diemen, just 5 kilometers below Amsterdam, was acquired in 2016. The original completion was scheduled for spring 2018. However, construction was delayed due to the insolvency of the initial contractor. Based on the existing Woningborg insurance that guaranteed the completion of the building, the selection of a new construction company began in October 2018. The first protective measurements took place afterwards. Thanks to the good cooperation with Woningborg and the selected new contractor, HSB Bouw, construction was able to be continued from spring 2019 onwards.
The first tenants have moved in on 20 March 2020. The property consists of 112 apartments with sizes between 49 m² and 131 m² (total living space of 8,078 m²) and 67 parking spaces. Letting activities started in February which led to an occupancy rate of 93% upfront. All apartments have balconies or roof terraces, bathrooms and fitted kitchens. The property is in high demand due to its design, the high quality of the building, but also due to its excellent connections to Amsterdam (underground and regional train station within 5 minutes walking distance), making it a sustainable investment.
About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specializes in innovative real estate and property investments. Due to the extensive industry knowledge with a focus on specialized investment sectors such as parking, telecommunications and affordable, contemporary living, Primevest Capital Partners has developed into a leading provider in these areas. Our top priority is to achieve attractive risk-adjusted returns for our customers. In doing so, we pay attention to sustainable income and value creation. Primevest Capital Partners currently manages assets of 1.6 billion euros, spread across eight sector-specific funds and two individual institutional mandates. Primevest Capital Partners currently has 40 employees at its locations in Utrecht and Berlin.
For more information, please contact:
Lisette van der Ham
Head of Marketing & Corporate Communications