PATRIZIA sells residential portfolio in the Netherlands on behalf of clients
Sales price of EUR 375 million achieved for over 2,000 residential units
- Properties are located across 29 Dutch cities
- 60% situated in so called Randstad megalopolis in and around Amsterdam and Rotterdam
- PATRIZIA confident of strong residential market fundamentals in Netherlands
Augsburg / Amsterdam, 1 April 2020. PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a large, mainly residential portfolio for EUR 375 million. The portfolio comprises 2,023 residential and 60 other, mainly commercial units, located in 29 cities in the Netherlands. Sixty percent 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.”
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 EUR 9bn, an increase of over 30% compared to 2018, of which more than EUR 500m came from the Netherlands.
The increased volume of signed transactions confirms PATRIZIA’s strong deal-sourcing capabilities from which its global client base benefits.
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA’s activities include the acquisition, management, repositioning and disposal of residential and commercial real estate through its best-in-class local network in all key markets. As a global partner for pan-European real estate investment, PATRIZIA operates as a trusted and independent business partner of large institutional, (semi-)professional and private investors in all major European countries. PATRIZIA manages more than EUR 44 billion of real estate and infrastructure assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. PATRIZIA is committed to responsible investments and positive social impact. The PATRIZIA Children Foundation has helped over 200,000 children in need worldwide for over 20 years, giving them access to education and greater opportunities to lead better lives. For further information, please visit: www.patrizia.ag.
Head of Corporate Communications
Phone: +49 (0) 821 5 09 10-636