SPF buys residential tower with 330 apartments in Utrecht

10 februari 2017

Amrâth Hôtels & Restaurants and SPF Beheer have reached an agreement for the sale of 330 rental dwellings in the project Galaxy Tower, centrally located at the Jaarbeursplein in Utrecht. Tangram Architects will design the building that, with a height of 90 metres, will be an eyecatcher for the city of Utrecht. Amrâth will realise the iconic building combining a luxury 4-star hotel with 250 rooms on the first 7 floors and 330 private rental dwellings on the remaining 21 floors. Capital Value acted as transaction advisor for Amrâth and Boekel acted as legal advisor. VKZ BV is involved as managing developer on behalf Amrâth.

The Galaxy Tower offers a unique combination of luxury four-star hotel with non-regulated rental apartments. The building will be realised at the Jaarbeursplein, opposite Utrecht Central Station and the Beatrix Theater. The residents can use the facilities at the Jaarbeurs Amrâth Hotel, including a restaurant, swimming pool, fitness and wellness.

The Galaxy Tower has a high sustainability label. This is the result of, among other things, the use of solar panels at the roofs and facades. The excellent location and the optimal design of the apartments are very suitable for renting in the private sector. The apartments will be realised at a high quality level that matches the hotel concept. Construction is expected to start in 2018 and completion is expected by 2020.

Bauke Robijn, manager strategy and acquisition at SPF Beheer: 'We are very pleased with the addition of these special apartments to the portfolio of our clients. The high-quality apartments in combination with the hotel facilities create a unique living concept. We can look back on a pleasant and smooth negotiation with all parties involved. With this acquisition we take an important step in the expansion of the property portfolio of our customers."

Marijn Snijders, managing director Capital Value: "The volume, the design and the unique location made the Galaxy Tower a unique opportunity for many investors. We consider it a positive development that institutional capital is invested in this project that reduces great shortage of medium-priced apartments in the centre of Utrecht."

For more information about this transaction, please do not hesitate to contact Marijn Snijders. 

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