AXA IM Alts completes forward funding acquisition of 313-unit residential development in The Hague
AXA IM Alts has acquired, by way of a forward purchase agreement and acting on behalf of clients, the ‘Binck City Park Block 1’ residential development in The Hague, the Netherlands. The site has been acquired from VORM, a major Dutch developer of high-end residential real estate.
Due to complete in 2024, the 21,000-square-meter (226,042-square-foot) complex will comprise 313 residential units for the rental market, ranging in size from 46 square meters to 98 square meters (495 square feet to 1,055 square feet), each with their own balcony and delivered to above-market specifications. Spread over 23 floors, amenities will include a private communal garden and underground parking for 805 bicycles and 75 cars. The complex will be completed to high environmental standards, with features including solar energy compatibility, to enhance sustainability credentials and reduce operating costs.
Overlooking the Haagse Trekvliet canal, the site is located on the edge of The H