Heimstaden Bostad AB Agrees Forward Purchase of 529-Unit Multifamily Portfolio in Rotterdam's Brainpark District

ROTTERDAM — Heimstaden Bostad AB has entered into a forward purchase agreement with Bakkers|Hommen for 529 newly constructed rental apartments and approximately 5,400 square meters of commercial plinth space within the Max Euwe Kwartier development in Rotterdam's Brainpark district, the parties announced Aug. 31, 2026.

The transaction covers three of the four residential buildings comprising the first phase of the Max Euwe Kwartier: ME01, ME21, and ME21A. Of the 529 units, 343 fall within the mid-segment regulated rental category and 186 are liberalized free-sector units. Construction is underway, with piling works continuing into early September 2026. Construction of the first phase officially started in December 2024.

Asset Profile and Development Scope

The Max Euwe Kwartier is situated adjacent to Erasmus University and borders the Kralingen district, with direct access to metro station Kralingse Zoom and the A16 motorway. The project is part of the broader transformation of Brainpark I, a former mono-functional office area being redeveloped into a mixed-use urban neighborhood.

Phase 1 of the Max Euwe Kwartier encompasses a total of 741 apartments across four residential buildings, approximately 220 parking spaces, and commercial space. All buildings will be connected to a collective aquifer thermal energy storage system providing low-carbon heating and cooling across the development. The fourth building in the phase, ME31, is being developed by Bakkers|Hommen with multiple scenarios under consideration for its disposition.

Boele & Van Eesteren, part of VolkerWessels, is serving as main contractor for the first phase. The broader Brainpark I transformation is planned to ultimately deliver more than 1,500 residential units and 240 short-stay apartments, alongside workspaces, hospitality, and public amenities. With the first phase and an adjacent Phase 2A both entering construction in the second half of 2026, nearly 1,000 apartments are now in active development across the site.

Transaction Structure and Advisory Teams

The deal is structured as a forward purchase, a transaction format in which the buyer commits capital to a development prior to completion. Bakkers|Hommen was advised commercially and on process by Capital FIT, legally by Dirkzwager, on tax matters by Joanknecht, and on notarial matters by Winston Taylor. Heimstaden was advised legally and on tax by Loyens & Loeff and commercially by Made Real Estate.

Executives Comment on the Deal

"The Max Euwe Kwartier shows what we stand for as a developer: transforming a mono-functional office area step by step into a vibrant urban neighborhood where people live, work, and meet," said Tom Bakkers, CEO of Bakkers|Hommen. "With Heimstaden we have found a partner that, like us, thinks in decades, not quarters. That 529 homes — largely in the mid-segment — are now secured for the long term for the Rotterdam rental market is exactly the impact we have in mind for Brainpark."

"The mid-segment and free-sector rental segments are indispensable pillars for a well-functioning housing market," said Michiel Vrijman, Managing Director of Heimstaden Nederland. "This complex offers affordable, high-quality, and sustainable homes for a broad group of households and forms a crucial link between social housing and owner-occupation. This large-scale development confirms our commitment to continuing to seek opportunities to invest in Dutch rental housing."

Simon Kuijs, Investment Director at Heimstaden, noted the deal's significance given current market conditions. "Despite the challenging Dutch investment climate, we have succeeded in realizing this complex together with Bakkers|Hommen," Kuijs said. "The 529 homes and the facilities added in the commercial spaces accelerate the transformation of Brainpark into a mixed and attractive new urban neighborhood."

Company Backgrounds

Bakkers|Hommen is a private, independently operated area developer and impact-driven investment company based in Rotterdam and Eindhoven. The firm has more than 25 years of experience developing large-scale inner-city areas across the full lifecycle, from initiative through delivery and operations, with approximately 15 active large-scale projects in the Netherlands.

Heimstaden Bostad AB is a European residential landlord with more than 155,000 homes across nine countries and a portfolio valued at more than 30 billion euros. The company acquires, develops, and manages residential properties with a long-term investment horizon.