Real estate investment firm Madison International Realty has acquired an 18.7% stake in a European core real estate fund managed by Heitman.
Madison International has invested in Heitman European Residential Investment Partners, a fund that owns residential rental properties in Western Europe, primarily in Germany and the Netherlands. The specific amount of the investment was not disclosed.
Madison International is investing to help Heitman achieve its goal of increasing value for investors by renovating properties, selling certain assets and privatising individual units.
Alex Lukesch, MD and head of the European investments at Madison, said: “The residential sector in Germany and the Netherlands is highly attractive, especially around major conurbations, where the demand for quality rental homes continues to significantly outstrip supply.
“Secondary transactions have always been central to Madison’s DNA and with this investment we are supporting the Fund on its real estate strategy to create value on behalf of investors. We have supported Heitman on previous ventures and look forward to supporting them with this latest vehicle.”
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