Patrizia AG has sold a large, mainly residential portfolio for €375m. 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,” said Emile Poort, Head of Transactions BENELUX, at Patrizia.
Peter Helfrich, Regional Head North-West Europe at Patrizia, added: “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."
