Heitman LLC has acquired a 282-unit, luxury senior living residence in Groningen, The Netherlands, on behalf of an affiliate of the firm. The transaction follows the company's purchase of a two-building residential portfolio located in the Nieuw-West district of Amsterdam. The total investment is approximately €150m.
The senior living residence is located in the heart of Groningen and consists of 208 luxury senior living apartments, 74 specialised care units and a range of amenities including several restaurants and bars, lounge areas, hair and beauty salon, pharmacy, physical therapy centre, gym, general practice, and an indoor swimming pool.
The residential complex in the Nieuw-West was built in 2008 and consists of 196 units with a mix of two, three, and four bedroom layouts located along the Slotervaart canal in a mixed-use area, which includes housing, shopping, leisure, and educational facilities. The property is well located and benefits from access to public transport that directly connects residents to Amsterdam city centre.
“We are pleased to add this high-quality senior living facility and a multi-family asset to our pan-European portfolio. The living sectors, which include rented apartments, student, and senior housing, represent an attractive combination of stable income and growth for a European or global portfolio,” said Tony Smedley, Heitman Managing Director and Head of European Private Equity. “The Netherlands remains a key market for us as we continue to position our portfolios to capture long-term growth at this stage in the cycle. These investments follow a €400m strategic portfolio disposition in Amsterdam where we crystallised strong performance for our investors.”
