Union Investment acquires four planned residential towers in Amsterdam

Union Investment has acquired four planned residential towers in Amsterdam for its open-end real estate fund UniImmo: Europa, expanding its strategic position in the European residential property market.

The vendor is property developer MRP, which will continue to implement the project for Union Investment. The purchase price was not disclosed.

The MIX Amsterdam project, located in the heart of the Amsterdam Nieuw-West district, marks Union Investment’s fifth venture into Amsterdam’s residential property market. The development project includes six residential towers to be constructed at Osdorpplein 1000, on the site of the former municipal offices for Amsterdam Nieuw-West. A total of 528 residential units will be created at the location, of which Union Investment has acquired 281, spread over four towers with a combined rental space of 20,274 square meters (218,228 square feet).

The transaction also includes approximately 3,950 square meters (42,517 square