The CZAN development joint venture—a collaboration between Blauwhoed and AM—has sold 174 mid-rental homes in the Noordhof 3 & 4 subprojects, part of Elzenhagen Zuid in Amsterdam-Noord, to CBRE Investment Management. Capital Value advised CZAN on the sale.
Arjan Peerboom, CEO at Capital Value:
“Elzenhagen Zuid demonstrates that sustainable and affordable housing development can go hand in hand. Strong market interest underlines the quality of this project and the demand for mid-rental homes in Amsterdam. We congratulate CZAN and CBRE IM on this transaction.”
Eltjo Bouwman, on behalf of the CZAN development joint venture:
“At Blauwhoed, together with AM and other partners, we are working in Elzenhagen Zuid to create a new piece of city within the existing city—unique in Amsterdam. This calls for a careful and high-quality approach, with the aim of creating a new home for everyone. We are pleased that this transaction also enables us to add mid-rental homes to the area. Mid-rental homes have already been delivered in earlier blocks as well.”
Mark Kouters, Portfolio Manager at CBRE IM:
“The addition of 174 mid-rental homes strengthens our Dutch residential platform and aligns with our long-term vision: investing in high-quality rental housing with stable prospects and societal value. With this acquisition, we are adding quality mid-rental homes in a location where demand is strong, enabling us to make a tangible contribution to the development of a liveable, mixed urban district.”
