Bouwinvest Residential fund acquires 612 homes for students and young professionals in Rotterdam
The Bouwinvest Dutch Institutional Residential Fund has acquired OurDomain Rotterdam Blaak in the centre of Rotterdam. Located on Gapersteeg directly opposite Blaak Station, the mixed-use development comprises of 612 student studios and apartments for young professionals, alongside 452 m² of commercial space. This investment is Bouwinvest’s response to address the growing demand for modern, affordable housing in the Randstad region. The acquisition aligns with the trend of investing in real estate, where operations and management form integral parts of the investment.
Greystar, who developed the project in close cooperation with Stebru, will remain involved as property and community manager. The transaction enables Greystar to reinvest the released capital in new residential projects.
The 24-storey building, completed in 2021, offers a mix of furnished and semi-furnished studios and rental apartments for students, young professionals, young couples, singles and short-stay residents up to the age of 28. Most of the apartments are rented below the liberalisation threshold with the remainder in the mid-rental market segment, boosting affordable living in the city. A small portion of the apartments fall within the private rental sector. Since its opening in January 2022, the complex has maintained a near full occupancy rate. The building has extensive shared amenities, including study and workspaces, lounges, a music and cinema room, a gym and a rooftop terrace with city views. On the ground floor, two commercial units are leased to an all-day dining experience and a barber.
The apartments are located in the heart of Rotterdam, right next to the André van der Louw Bridge and the Willem de Kooning Academy, and just a stone’s throw from Rotterdam Blaak Station - a major public transport hub with train, metro, tram and bus connections. All universities and colleges in the city can be reached within fifteen minutes, while daily amenities, including a supermarket, are within walking distance.
“OurDomain Rotterdam Blaak fits perfectly within our strategy to add affordable and sustainable housing in prime urban locations in the Holland Metropole region. At a time when the housing market is under severe pressure, it is important that this type of housing remains available and affordable for students and young professionals. This acquisition is also fully aligned with our Paris Proof objectives and further contributes to the sustainability of our portfolio”, said Paul van Stiphout, Fund Manager Dutch Institutional Residential Fund.
Mark Kuijpers, Senior Managing Director Greystar: “This sale enables us to reinvest the released capital into new projects, allowing us to create additional housing for students and young professionals in the Netherlands. We are pleased to remain involved, on behalf of Bouwinvest, as the property and community manager, delivering a unique living experience to its residents,”
The project was developed in 2016 by Greystar in cooperation with Stebru and designed by Tangram Architects. Greystar also acted as the selling party.