Investment manager ASR has acquired a 20,000 m2 residential portfolio in the Netherlands for about €40 mln.
ASR, which is based in the city of Utrecht, carried out the acquisition on behalf of its ASR Dutch Core Residential Fund. While the investment volume was not disclosed, PropertyEU Research estimates the price was in the region of €40 mln.
The vendor was the real estate development and investment arm of retail group Hoogvliet. The 195 units of the portfolio are all located above Hoogvliet supermarkets.
The Hoogvliet portfolio includes 50 parking places and is spread across nine locations in the Randstad conurbation and one in the central Dutch city of Ede. The largest residential complexes are located in Alphen aan de Rijn, Monster, Boskoop and Ede. The Randstad includes the four largest Dutch cities, Amsterdam, The Hague, Rotterdam and Utrecht.
