Date:November 13, 2015

COD and Verweij Mungra sign agreement for 475 apartments ‘Nautique Living’ in Amsterdam

Bouwinvest, on behalf of the Bouwinvest Residential Fund has with Noordas BV (a joint venture of COD, Borghese Real Estate and Verweij Mungra Vastgoed) signed the purchase agreement for 475 private sector rental apartments, 142 parking spaces and 1,000 m² of commercial space in the project “Nautique Living” on the NDSM site in Amsterdam-Noord.

Nautique Living is an apartment complex with a lively mix of features. In addition to the free sector rental apartments are over 400 student residences, commercial space and possibly a hotel. The project is located on the NDSM site in Amsterdam-Noord. The area is characterized by an industrial look with a multitude of functions. Gradually transform the area into a place to live, work and recreate. Two towers of 60 meters high and the use of robust materials characterize the special industrial architecture; a design of Oever Zaaijer.

Michael Brown, Head of Asset Management Real Estate: “The shortage of houses for starters and 1- and 2-person households in the medium-priced housing sector in Amsterdam, coupled with the increasing popularity of Amsterdam Noord, Nautique Living makes a very desirable investment. With the ferry you will be in 14 minutes at the Central Station of Amsterdam.”

Gert-Wim Bos, Director COD: “The acquisition of 475 properties by Bouwinvest shows that the need for this type of rental is great. Together with our partners Verweij Mungra and Borghese COD has acquired location on risk and has transformed into a Nautique Living room: a large urban and differentiated residential complex with varied architecture. Sales to Bouwinvest is a confirmation of our vision of this new residential area of Amsterdam.”

The realization of Nautique Living is carried out in two phases. Phase 1 consists of 250 private housing, as well as student housing and a parking garage. It also contains a shared courtyard. The start of construction of phase 1 scheduled in January 2016. Phase 2 involves 225 private sector rent apartments and possibly a hotel. The start of construction of Phase 2 provided in May 2016.

On behalf of COD, Borghese and Verweij Mungra BNP Paribas Real Estate is involved as an advisor. NautaDutilh has the vendor supported legally. The execution of the entire project is owned by Pleijsier Bouw.