Greystar Real Estate Partners is buying 406 rental apartments in the Netherlands.
The real estate manager said it has agreed to buy the apartments in The Hague Southwest from developer Stebru. Financial details were undisclosed.
The apartments are part of the Levels development by Stebru in collaboration with Vestia and the Municipality of The Hague. The intended completion date of the Levels project is expected in mid-2025.
The total development comprises 548 rental homes across all segments of the rental market. The 142 apartments in the social sector will be sold to a housing corporation.
Greystar, which is making the investment as part of its pan-European residential investment strategy, said it will acquire the remaining 406 private rental homes, of which 162 are in the affordable mid-priced segment.
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