Heitman has bought a 282-unit senior living residence and a two-building residential portfolio in the Netherlands worth €150m.

The $43.5bn real estate manager acquired the luxury senior living residence in Groningen on behalf of an affiliate of the firm. The residential portfolio in the Nieuw-West district of Amsterdam was acquired in September, Heitman said.

Tony Smedley, Heitman’s managing director and head of European private equity, said: “We are pleased to add this high-quality senior living facility and multi-family asset to our pan-European portfolio.

“The living sectors, which include rented apartments, student, and senior housing, represent an attractive combination of stable income and growth for a European or global portfolio.”

Smedley said the Netherlands remains a key market for Heitman as its continues to position its portfolios to capture long-term growth at this stage in the cycle.

 “These investments follow a €400m strategic portfolio disposition in Amsterdam where we crystallised strong performance for our investors.”