Orange IM acquires new development project in Amsterdam

BMB ontwikkeling (part of VolkerWessels) and Reggeborgh Vastgoed have recently concluded an agreement with Orange Investment Manager for the sale of the public parking garage within project BinnenDok at the NDSM wharf in Amsterdam. The asset was bought for one of its managed fund Catella Parken Europe.

The building comprises a parking facility with 525 public parking spaces, commercial premises forming the facade on the ground floor and a roof garden for residents and neighbours. The building forms part of the ‘BinnenDok’ project, which, besides the parking garage, comprises two residential buildings with 107 apartments, an office building and commercial facilities at street level. The construction of the BinnenDok project is expected to begin in the first quarter of 2021 and completion of the project is expected in 2023. Project BinnenDok was designed by Heren 5 architects from Amsterdam.

New urban district NDSM

Project BinnenDok is being developed in the heart of the NDSM-wharf, the new urban district on the north bank of the IJ-river, where the biggest and most modern shipyard in the world once stood. The transformation of this area started more than 15 years ago. The total program will be expanded over the coming years to include some 5,000 rental and owner-occupied homes, parking facilities, leisure functions, commercial premises, (small)offices and shops. Following the completion of over 300 social housing units and a health center earlier this year, BMB ontwikkeling and Reggeborgh Vastgoed will shortly deliver the Pontkade project. This project comprises 250 rental and owner-occupied homes with an Albert Heijn supermarket and a variety of hospitality establishments on the ground floor.

Orange Investment Managers, specialist investment manager with a focus on parking real estate, expands its team with Richard Kuiper (asset manager) and Ronald van Aerssen (finance director).

Richard Kuiper, member of RICS and registered appraiser, gained experience as appraiser and broker at Cushman & Wakefield, formerly DTZ Zadelhoff, after his real estate studies. Richard will be responsible for the asset management and realisation of the intended fund objectives.

Ronald van Aerssen has been appointed as finance director for the further professionalisation of the services provided to our clients. Prior to this, he was active in various finance roles at Rabobank and ABN AMRO Bouwfonds, as well as in the development of the fund performance management software FundStar.

“Investment management, especially in a niche market such as parking garages, requires focus and a continuous commitment to the quality of the real estate and our services. This expansion will enable us to achieve further growth,” says director Jouke Schneider. “In addition, our team continues to look for new investment opportunities”.

Currently, Orange Investment Managers manages an international portfolio of parking garages in 6 European countries from its offices in Amsterdam and Düsseldorf. The arrival of Richard and Ronald underlines the growth ambition and further development of her portfolio.