Lone Star Funds has acquired a 13-asset residential portfolio in the Netherlands from the Catella Panta Rhei Dutch Residential Fund for €215.5m.
The acquisition, made through an affiliate of Lone Star Real Estate Fund VII, comprises more than 900 living units across urban centres, including Amsterdam, Eindhoven, Nijmegen and Rotterdam.
More than 90% of the portfolio was constructed or renovated after 2000.
Jérôme Foulon, global head of commercial real estate at Lone Star, said: “We see compelling potential in this portfolio and the broader Dutch residential real estate market. The structural tailwinds in the market support further housing demand, underpinned by a strong and diversified economy and continued housing shortage.”
Jeremie Goldsztain, senior managing director and head of Europe real estate at Lone Star, said: “Lone Star has extensive operating experience in the Netherlands, and we believe the combination of local market knowledge and our active asset management approach positions us well to capitalise on the portfolio’s underlying fundamentals with strong demand for quality housing.
“Lone Star will continue to actively engage with this strategy in the Netherlands.”
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