Transaction Maarsen Groep sells homes in The Modernist to a.s.r. real estate and NLV

Maarsen Group is proud to announce the sale of 333 rental homes to a.s.r. real estate and NLV. The units are part of the prestigious project The Modernist, located in the centre of Rotterdam, based on a design by Rotterdam-based architecture firm MVRDV. a.s.r. real estate, on behalf of the ASR Dutch Core Residential Fund, has purchased 167 units located on the 6th to 26th floors in the South Tower of the project. NLV has purchased 166 units in the North Tower.

Besides the 333 rental units, Maarsen Group is developing 88 owner-occupied unit, on the top 11 floors of the South Tower, which will be sold to private individuals during construction. All homes are designed according to the principles of Paris Proof, which means they meet the highest standards of energy efficiency and sustainability.

The Modernist also includes - in addition to 421 residential units - approximately 14,000 sqm of LFA of office space and commercial facilities, which Maarsen Group will operate itself. The offices are (certified) BREEAM-Excellent designed and, like the residences, comply with the principles of Paris Proof. Financing for the commercial programme and the residential units will be provided by Rabobank.

These strategic transactions ensure the realisation of the mixed-use project The Modernist. Stebru Bouw will start demolishing the existing buildings before the end of this year, followed by the realisation of The Modernist. Completion of the project is scheduled for late 2028.

‘We are very pleased with a.s.r. real estate and NLV as sustainable partners in our beautiful project The Modernist, which after years of careful preparation is now actually being realised.’ says Monique Maarsen of Maarsen Group. ‘This transaction underlines our commitment to delivering high-quality, sustainable homes and offices, at this prime location opposite Rotterdam Central.’

Robbert van Dijk, fund director ASR Dutch Core Residential Fund, says: ‘The Modernist is a beautiful project with homes that are energy-efficient and sustainable. This fits with our aim to meet the Paris-Proof commitment by 2045 at the latest with our residential portfolio.’

‘We are proud of the acquisition of the North Tower. With this project, we are adding 166 sustainable homes, mostly in the mid-rent segment, to the portfolio of one of our clients. Right next to Rotterdam Central, this project offers excellent accessibility for the future residents.’ said Wim Wensing, CIO of NLV.

Thomas Westerhof, Head of Residential Investment Continental Europe of CBRE, says: ‘The sale of the rental apartments in the high profile project The Modernist by Maarsen Groep to a.s.r. Real Estate and NLV shows ongoing liquidity for high quality residential developments of scale in the Netherlands. With the realisation of the 333 highly sustainable apartments the partners make a very significant contribution to the supply of affordable rental homes in Rotterdam.'

CBRE advised Maarsen Groep on the sale of the properties to a.s.r. real estate and NLV. Houthoff provided legal advice to Maarsen Groep. RESI advised NLV in the purchase of the North Tower and Loyens and Loeff provided legal advice.