In December 2021, Hines, on behalf of its European Core Fund, acquired three unique commercial properties in Amsterdam from real estate developers and investors Millten and Harvest Vastgoed.
Located in the NDSM submarket, a former shipyard and thriving neighborhood in Amsterdam Noord, the assets comprise 11,200 square meters and are multi-let to a range of tenants including technology, media, food and beverage, and a charity occupier supporting environmental protection.
The former shipyard warehouses have been reimagined as characterful office spaces. The buildings are arranged around a public square, together with an existing hotel, and Hines intends to further expand placemaking initiatives and sustainability-linked activities in collaboration with the neighborhood to positively impact the NDSM area, which is located on the banks of river IJ with excellent transport links including a ferry to the city center and wider Amsterdam. Tenants opt for this cultural hotspot with an array of local amenities including numerous bars and restaurants, an open-air cinema, and one of the largest flea markets in Europe.