Heimstaden Bostad AB (Heimstaden) is once again investing in expanding the housing supply in the Netherlands. The residential landlord has signed an agreement to acquire 529 newly built rental apartments and approximately 5,400 m² of commercial space in the Max Euwe Quarter in Rotterdam. Nearly two-thirds of the apartments, 343 in total, are in the mid-market segment. The remaining 186 apartments are in the free-market sector. The project is being developed by Bakkers|Hommen. Construction has already started and is expected to take approximately three years.
The first phase of the Max Euwe Quarter comprises a total of 741 apartments across four residential buildings, with approximately 220 parking spaces and commercial areas. All buildings will be connected to a sustainable collective thermal energy storage system: a district-wide solution providing sustainable heating and cooling for the neighborhood. The 529 apartments being acquired by Heimstaden are located across three of the four residential buildings in this first phase.
“The mid-market and free-market rental segments are essential pillars of a well-functioning housing market,” says Michiel Vrijman, Managing Director of Heimstaden Netherlands. “This complex offers affordable, high-quality, and sustainable homes for a broad group of households and forms a crucial link between social rental housing and homeownership. This substantial development confirms our commitment to continue exploring opportunities to invest in Dutch rental housing.”
Simon Kuijs, Investment Director at Heimstaden: “Despite the challenging Dutch investment climate, we have succeeded in working with Bakkers|Hommen to realize this complex. The 529 apartments and the amenities being added in the commercial spaces will accelerate the transformation of Brainpark into a mixed-use and attractive new urban district.”
“The Max Euwe Quarter reflects what we stand for as a developer: gradually transforming a monofunctional office district into a vibrant urban neighborhood where people live, work, and meet. In Heimstaden, we have found a partner that, like us, thinks in decades rather than quarters. The fact that 529 apartments — largely in the mid-market segment — are now secured for the Rotterdam rental market for the long term is exactly the impact we envisioned for Brainpark,” says Tom Bakkers, CEO of Bakkers|Hommen.
About the Max Euwe Quarter
The Max Euwe Quarter is part of the transformation of Brainpark I, located next to Erasmus University and adjacent to the Kralingen neighborhood. In the coming years, the original office district will be developed into a vibrant mixed-use urban neighborhood with more than 1,500 homes and 240 short-stay apartments, workspaces, meeting areas, hospitality venues, and various amenities. Significant attention is being given to high-quality public space, ecological diversity, sustainable district energy, and strong pedestrian and bicycle connections. The area borders the Kralingse Bos and is easily accessible via Kralingse Zoom metro station and direct connections to the A16 and Rotterdam city center.
The project is being developed by Bakkers|Hommen. Contractor Boele & Van Eesteren, part of VolkerWessels, is responsible for construction.
In the transaction, Heimstaden was advised legally and fiscally by Loyens & Loeff and commercially by MADE Real Estate. Bakkers|Hommen was advised by Capital FIT (commercial and process management), Dirkzwager (legal), Joanknecht (tax), and Winston Taylor (notarial).
