GARBE Institutional Capital has acquired 219 apartments in the Netherlands for its European residential fund.

The investment and asset management arm of real estate firm Garbe said it has bought 219 apartments in the Rotterdam metropolitan area for its GARBE European Residential Fund (GARBE EUResi). Financial details were undisclosed.

The 13,500sqm apartment building, located in Schiedam, is fully let.

Michiel Dubois, managing director at Garbe Institutional Capital, said: “The apartments provide affordable living space within the Rotterdam urban agglomeration which has a pronounced housing shortage.

“With projected population growth of over 20% until 2050, housing demand in Schiedam outstrips the national average (at 11.5 %).”

GARBE EUResi, launched with capital management firm Intreal, invests in Germany, the Netherlands, France, Spain, UK as well as the capital cities of the Czech Republic and Poland.

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