A local residential fund managed by Dutch pension asset manager Bouwinvest has acquired a portfolio of 612 homes in Rotterdam from Greystar.
The Bouwinvest Dutch Institutional Residential Fund has acquired the OurDomain Rotterdam Blaak mixed-use development comprising student studios and apartments for young professionals, alongside 452sqm of commercial space for an unspecified sum.
Greystar, which developed the 24-storey building in cooperation with Stebru, will remain involved as the property and community manager.
Paul van Stiphout, fund manager at Bouwinvest Dutch Institutional Residential Fund, said: “OurDomain Rotterdam Blaak fits perfectly within our strategy to add affordable and sustainable housing in prime urban locations in the Holland Metropole region.
“At a time when the housing market is under severe pressure, it is important that this type of housing remains available and affordable for students and young professionals. This acquisition is also fully aligned with our Paris Proof objectives and further contributes to the sustainability of our portfolio.”
Mark Kuijpers, senior managing director, Greystar, said: “This sale enables us to reinvest the released capital into new projects, allowing us to create additional housing for students and young professionals in the Netherlands.
“We are pleased to remain involved, on behalf of Bouwinvest, as the property and community manager, delivering a unique living experience to its residents.”
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