PATRIZIA sells Dutch residential portfolio for EUR375m
PATRIZIA AG has sold a large, mainly residential portfolio for EUR375 million. The portfolio comprises 2,023 residential and 60 other, mainly commercial units, located in 29 cities in the Netherlands.
Sixty per cent of the properties are situated in the so-called Randstad megalopolis, the urban area in and around Amsterdam and Rotterdam with strong macro-economic growth prospects. The buyer is the Swedish residential real estate company, Heimstaden.
“We achieved a comprehensive and solid agreement with Heimstaden, a well-respected and leading residential property company, thanks to our strong local expertise and competence of our agile transactions team on the ground here in the Netherlands. We believe the residential portfolio is in very good hands and the sale underlines our ability to close strategic deals even in the current very challenging times for all of us,” says Emile Poort, Head of Transactions BENELUX, at PATRIZIA.
Peter Helfrich, Regional Head North-West Europe at PATRIZIA, adds: “The residential sector in the Netherlands remains very attractive for investors with strong market fundamentals continuing to underpin it. Growing demand for good and affordable housing is likely to continue into the foreseeable future. PATRIZIA as a reliable and strong partner is very much in the market to source new residential acquisition opportunities on behalf of its clients in the Netherlands.”
PATRIZIA recently confirmed its success in the European real estate transaction market with signed transactions across real estate sectors for its numerous thematic investment strategies totalling EUR9 billion, an increase of over 30 per cent compared to 2018, of which more than EUR500 million came from the Netherlands.
The increased volume of signed transactions confirms PATRIZIA’s strong deal-sourcing capabilities from which its global client base benefits.