€108-billion Danish pension fund ATP and AXA Insurance have formed a 50-50 joint venture to acquire what is expected to be the largest hotel in the entire Benelux region from real estate developer COD by means of a forward purchase.
The 650-guestroom hotel, developed by COD in conjunction with sustainability specialist Being Development, is expected to have the largest number of rooms in the Belgium, Netherlands and Luxembourg region when it opens in the second half of 2019 under the name Nhow Amsterdam RAI Hotel.
AXA Investment Managers–Real Assets carried out the transaction, and now manages 80 hotels worth €2.6 billion across eight countries on behalf of different clients.
The hotel will be operated by Nhow, part of the NH Hotel Group, and will be located in Amsterdam’s main business district of Zuidas and the World Trade Centre.
The hotel has been designed by architecture firm OMA, which was founded by Rem Koolhaas. AXA IM–RA said the hotel is aiming for BREEAM Excellent certification, and will have conference facilities, a wellness centre, skybar and restaurant, a TV studio and parking garage.