Patrizia AG has acquired CityTwin, a residential turnkey development project in Breda, the Netherlands on behalf of its institutional clients for an undisclosed price. The vendor is HIG Invest Group. The 5,300m² development features 123 units across two buildings with affordable rent between €600 and €1,000 pcm. CityTwin has been built to a high standard of sustainability with solar panels and an electric car share provision included in the designs.
Pieter Kamps and Helmut Hetzenauer, partners at HIG, said: “The inner-city redevelopment was complex, but more than worth the effort. We are very pleased with Patrizia as a leading investing partner for our distinctive (micro) housing concept. This transaction gives us the possibility to explore new opportunities and contribute further to the realisation of additional residential stock, mainly in the social and mid-range segment in the major cities of the Netherlands.”