Union Investment relies on the long-stay concept in the YVIE district project in Amsterdam
Lease contract with Staycity Aparthotels for 25 years
Around 75 percent of the new building complex has already been let
Union Investment is intensifying its cooperation with the Irish aparthotel operator Staycity. In the mixed-use project YVIE, which Union Investment is currently realizing in the north of Amsterdam, in the dynamically growing district of Overhoeks, Staycity will supplement the range of apartments with long-term bookable residential units (long-stay). From May 2024,
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Staycity will operate 120 rooms in the 31-storey residential tower, one of the two buildings of the YVIE complex, on floors three to ten and a total area of around 7,000 square meters. The other floors of the residential tower will be occupied by a total of 176 rental apartments, which Union Investment will market directly. The lease concluded with Staycity has a term of 25 years. Staycity is expanding its portfolio to a total of 33 hotels by entering the Dutch market.
“We trust the innovative strength and resilience of this successful asset class and look forward to further expanding our long-stay offering with strong operators. We are particularly interested in concepts that fit well into mixed-use concepts such as YVIE,” says Thorsten Purkus, Head of Asset Management Hospitality International at Union Investment. With concierge services, a coffee bar, a fitness room and a roof terrace, Staycity will supplement the offer for the future apartment and office tenants of the YVIE ensemble.
“With our Wilde Hotels in Berlin, London, Edinburgh and Manchester, Amsterdam is the perfect addition to our portfolio, especially this spectacular building in such a vibrant and up-and-coming area,” said Tom Walsh, CEO and co-founder of Staycity Group. "Staycity now has almost 6,000 apartments in 33 properties and our growth plans include Portugal as well as other locations in London, Paris and Munich. We are therefore very pleased to add the Netherlands to our fast-growing portfolio."
Markus Beike, Staycity's Development Director Germany and CEE, says: "We are delighted to be working with Union Investment on this landmark property in one of Europe's most popular cities. Wilde offers something very special and appeals to both business and leisure travelers who are looking for quality, modern self-catering apartments that stand out from the crowd - the perfect match for this sophisticated location."
A Wilde Aparthotels Staycity in London has been part of Union Investment's hotel portfolio with a total of 90 hotels since last year. The property is leased to Staycity for a period of 30 years. The Australian long-stay provider Adina has been operating 169 apartments in the “Turm am Mailänder Platz” complex in Stuttgart since last year. Both properties belong to the portfolio of the open-ended real estate fund UniImmo: Deutschland.
The new building ensemble YVIE comprises a gross floor area of 106,000 m2. With the Maritim Hotel in the neighboring building and Staycity in the residential tower, around 75 percent have been pre-let around 18 months before the planned completion of the entire project. YVIE is part of the portfolio of the open-ended real estate fund UniImmo: Europa. The fund also holds other properties in Amsterdam, such as the office building duo ITO and SOM, the UN studio and a Motel One budget hotel.
“We trust the innovative strength and resilience of this successful asset class and look forward to further expanding our long-stay offering with strong operators. We are particularly interested in concepts that fit well into mixed-use concepts such as YVIE,” says Thorsten Purkus, Head of Asset Management Hospitality International at Union Investment. With concierge services, a coffee bar, a fitness room and a roof terrace, Staycity will supplement the offer for the future apartment and office tenants of the YVIE ensemble.
“With our Wilde Hotels in Berlin, London, Edinburgh and Manchester, Amsterdam is the perfect addition to our portfolio, especially this spectacular building in such a vibrant and up-and-coming area,” said Tom Walsh, CEO and co-founder of Staycity Group. "Staycity now has almost 6,000 apartments in 33 properties and our growth plans include Portugal as well as other locations in London, Paris and Munich. We are therefore very pleased to add the Netherlands to our fast-growing portfolio."
Markus Beike, Staycity's Development Director Germany and CEE, says: "We are delighted to be working with Union Investment on this landmark property in one of Europe's most popular cities. Wilde offers something very special and appeals to both business and leisure travelers who are looking for quality, modern self-catering apartments that stand out from the crowd - the perfect match for this sophisticated location."
A Wilde Aparthotels Staycity in London has been part of Union Investment's hotel portfolio with a total of 90 hotels since last year. The property is leased to Staycity for a period of 30 years. The Australian long-stay provider Adina has been operating 169 apartments in the “Turm am Mailänder Platz” complex in Stuttgart since last year. Both properties belong to the portfolio of the open-ended real estate fund UniImmo: Deutschland.
The new building ensemble YVIE comprises a gross floor area of 106,000 m2. With the Maritim Hotel in the neighboring building and Staycity in the residential tower, around 75 percent have been pre-let around 18 months before the planned completion of the entire project. YVIE is part of the portfolio of the open-ended real estate fund UniImmo: Europa. The fund also holds other properties in Amsterdam, such as the office building duo ITO and SOM, the UN studio and a Motel One budget hotel.
