Asset manager DWS has sold a €95m residential portfolio in the Netherlands to local residential real estate investor Urban Interest.

DWS said the portfolio – which comprises 497 apartments spread across four centres in Rijswijk, Voorburg and two locations in Zoetermeer – was sold on behalf of a joint venture between three institutional real estate funds, including Europe II, DWS’s open-ended, core real estate fund.

Nicoletta De Bona Bottegal, lead portfolio manager for DWS Europe II, said: “Our decision to divest this Dutch residential portfolio reflects our proactive approach in managing the fund’s overall risk profile while capitalising on current market conditions.

“We are very pleased with the asset management initiatives completed across the portfolio which have generated substantial growth in net operating income, resulting in a profitable sale.

“The successful sale not only reinforces our strategic vision but also positions us to pursue new value-accretive opportunities that align with our core investment philosophy.”

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