Sale of unique residential formula for young people

We assisted Change= with the sale of a new-build project in Amsterdam with a full-service residential formula. The project comprised 498 micro apartments on the August Allebeplein. It was the first project of Change=, whose objective is to launch the concept in several cities.

Our approach

Change= is a unique full-service residential concept for young professionals. Alongside the rental of a dwelling, tenants are offered over 40 services. From common wash areas in the building to discounts on mobile telephony and insurance. The sale not only involved the development but particularly the concept. The assignment was to find and end-investor who wanted to buy the development and conclude a 10-year management agreement for the Change= concept.   We advised Change= in working out the concept for investors. A professional Investment Memorandum was drawn up that clearly outlined the concept of Change=. We then conducted talks with institutional end-investors interested in micro-dwellings. We also involved many international funds in the sales process and gave presentations in cities such as London, New York and Frankfurt.

The result

The project was successfully sold via a turn-key transaction to the American investment manager Heitman, who bought the project for its shareholder, an American pension fund. The project was completed and fully rented in March 2017. Change= will offer the "living as a service" concept in the building for 10 years.

Thanks to the good result and pleasant cooperation, we were selected to sell a second building in Amsterdam with the Change= philosophy. For more information on Change= and the concept, we refer you to the website.

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