Angelo Gordon and Stadium Capital Partners are the new owners of the residential shopping complex ‘De Kameleon’ in Amsterdam-Zuidoost. The investors bought the complex from Woonstichting De Key. The transfer has already taken place.
“De Kameleon” is located on the Karspeldreef, one of the main arteries of Amsterdam-Zuidoost, right next to metro station Kraaiennest. The building was completed in 2012 and consists of approximately 10,000 m² of commercial spaces, 222 free sector rental apartments and 439 parking spaces.
A lot of attention
De Kameleon offers a unique combination of living and daily shopping facilities in one investment property. There was therefore a lot of interest from both nationally operating private investors and (international) institutional investors.
Crown of urban renewal
De Key has developed and commissioned De Kameleon. The project was the crown and the final piece of the urban renewal of the K-neighborhood. Since the introduction of the new housing law and the focus on residential start-ups, De Key has rejected real estate. With the proceeds from the sale, De Key invests in new housing for residential starters within the A-10 ring, such as the Zuidblok and Startblok Elzenhagen.
Richard Stolle, Managing partner Stadium Capital Partners:
“With partner Angelo Gordon we are very enthusiastic about the purchase of De Kameleon in Amsterdam Zuid Oost. Companies, private individuals and investors have rediscovered Southeast, as a location for renting office, retail and living space and investing in (large) real estate projects.
“De Kameleon” offers a good mix of living, parking and shopping (for daily shopping). The complex is located right next to the metro with a fast connection (10 minutes) to the center of Amsterdam. There are various types of dwellings of two, three and four rooms varying between 53 and 136 square meters with indoor parking spaces. The apartments are finished to a high standard. The building offers plenty of opportunities.
Bas Wilberts, Head of Alternative Investments at Savills Netherlands:
“De Kameleon”‘ was the perfect opportunity to acquire an attractive investment product. The timing for selling this type of building was therefore excellent. The object offers plenty of opportunities for parties who want to invest in existing real estate in the strongest economic region of the Netherlands. In 2017, investors will still see ‘big beautiful’; investors prefer one big acquisition over doing various small acquisitions. Ultimately, this is one of the few large-scale complexes with a proven track record that was sold in Amsterdam last year. We are proud that we were able to supervise the sale for De Key. ”
De Key was advised by Savills (commercial) and Van Doorne (legal). The buyer was assisted by Loyens and Loeff (legal). Vivo housing will manage the De Kameleon complex.