Patrizia Immobilien is aiming to build 100 residential assets a year in the Dutch city of Tilburg.
It will work with the Dutch municipality of Tilburg to build assets in the medium price segment of the unsubsidised rental market.
Peter Helfrich, managing director for the Netherlands, said the company was aiming to expand its housing portfolio.
“The Netherlands remains an interesting market for investments in residential property,” he said.
“Population growth, economic developments and the municipality’s constructive role ensure Tilburg is an appropriate location for entry into housing.”
Patrizia said that, as a consequence of sustained demand for new apartments, Tilburg would continue to grow in the coming years.
Due to falling buying demand for properties, new construction of apartments is stagnant.
Private investors including Grouwels Vastgoed sold the 91,500 sqm portfolio of 980 residential units.
The sector continues to attract global investment, with the door to international investors opened wide.
In an opening keynote address at this year’s IPE Real Estate Global Conference & Awards in Amsterdam, the city’s mayor, Eberhard van der Laan, told delegates that rising residential prices were driving people out of the city.
The sector, now an established part of local pension funds’ investment portfolios, has attracted a wave of foreign, cross-border investment managers.