Garbe Institutional Capital has bought over 200 new apartments in the Rotterdam city area for Garbe European Residential Fund.
The company acquired a recently completed apartment building with 13,500 sqm of GLA across 219 units in Schiedam, a municipality within the Rotterdam city area.
The project is situated adjacent to the historical centre of Schiedam and has excellent public transport connections. The location is within the A20 Rotterdam city ring and is only 5 kilometres from Rotterdam’s main city centre.
The development has been completed in 2021 and the apartments are fully let. This acquisition will be part of the “GARBE European Residential Fund” (GARBE EUResi).
Managing Director, Michiel Dubois said: “The apartments provide affordable living space within the Rotterdam urban agglomeration which has a pronounced housing shortage. With this sustainable high-quality transformation, a huge amount of CO2 has been preserved. In combination with affordable rents and its excellent location, we are convinced of the assets’ sustainability.”