M&G Real Estate has acquired a €340m residential and student housing campus in the Netherlands on behalf of its European property fund.
Developed by Greystar, the 1,559-home OurDomain Amsterdam Southeast asset comprises 955 purpose-built units for students and young professionals alongside 604 private-rented homes spanning regulated, mid-market and free-market tenures.
The acquisition of the OurDomain campus in the Amstel III district of Amsterdam expands M&G’s European living platform to more than €7bn across almost 27,000 homes.
The transaction marks M&G Real Estate’s second major European living acquisition in recent months, following its purchase of the €250m Banehaverne residential scheme in Denmark. Located in Greater Copenhagen between Glostrup and Brøndby, the 56,000sqm asset was acquired from a joint venture between Urban Partners, AG Gruppen and Nordea Pension Ejendomme.
Laurien van Wieringen, director of investments and asset management, Netherlands at M&G Real Estate, said: “Opportunities to acquire large, institutional-quality living assets in Amsterdam are rare, making this such a significant transaction for us. It reflects the strength of our local platform and our ability to execute complex deals.
“Our focus now is to build on the campus’s strong foundations and make it an even better place to live, study and work, while enhancing its environmental performance and delivering reliable long-term income for our investors.”
Simon Ellis, fund manager of the M&G European Property Fund, said: “Living remains one of our highest-conviction themes across Europe.
“Following the fund’s recent €250m-plus acquisition of Banehaverne, a residential scheme in Greater Copenhagen, this transaction represents another important step in scaling our living exposure.”
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