Pan-European urban real estate specialist Redevco has expanded its residential offering with the acquisition of Dutch residential real estate company LIFE Europe.
Redevco has invested an undisclosed sum to buy LIFE Europe, which will be now known as Redevco Living, Redevco’s newly created residential development, investment and operational platform.
As part of the acquisition, LIFE Europe’s team will join Redevco including its CEO Steven Zeeman who will become managing director Redevco Living.
LIFE Europe has a pipeline of residential and mixed-use projects in The Netherlands, including Entrada in Amsterdam, Rivium in Rotterdam, and Escher Gardens in The Hague, which are expected to be completed in 2027.
Redevco entered the residential sector at the end of 2018 with a focus on Germany, The Netherlands, Spain and the UK. Since then, Redevco acquired two residential development projects in the Netherlands and one in the UK, a residential property in Germany, and it launched a built-to-rent strategy in the UK market together with Swiss Finance Property.
Herman Jan Faber, head of business development, said: “Building on the track record of LIFE Europe, the launch of Redevco Living accelerates our ambition to build a residential platform.
“Even in a challenging market, we believe that this acquisition and the collaboration with both existing as well as new like-minded partners can positively impact cities by helping to resolve the housing shortage and creating vibrant, liveable cities. Starting in The Netherlands, we aim to expand our residential platform to more countries where we currently operate.”
Zeeman said the pan-European scale of Redevco, its extensive infrastructure and network will enable LIFE Europe to connect people, projects, and capital with the goal to create and operate the next generation of mixed-use rental housing.
To read the latest edition of the latest IPE Real Assets magazine click here.