Global real estate investor Heitman has added a 285-unit senior living facility to its pan-European portfolio.
The $44bn (€40.2bn) manager said it has acquired the Leyhoeve Tilburg luxury senior living residence in the Netherlands on behalf of a joint venture between two affiliates of the firm.
The asset, located on the southern border of Tilburg’s city centre, was acquired from Bonita Groep for an undisclosed sum.
Heitman said the latest deal is the second senior housing asset that the company has acquired from Bonita in the Netherlands during the past year, the first was Leyhoeve Groningen, a 282-unit luxury senior living community.
Leyhoeve Tilburg consists of 200 luxury senior living apartments, 85 specialised care units.
Tony Smedley, Heitman managing director and head of European private equity, said: “There is a supply shortfall of premium senior care space in the Dutch market and the European living sectors continue to represent an attractive combination of stable income and growth for a European or global portfolio.
“The acquisition of Leyhoeve Tilburg further diversifies our portfolio across the Netherlands and has enabled us to continue to grow capital commitments from our investors, this latest joint venture being the first acquisition for a new, dedicated European mandate on behalf of a global investor client of the firm.”