BNP Paribas REIM Germany has bought a portfolio of 265 Dutch apartments for around €40 mln.
BNP Paribas REIM Germany has bought a portfolio of 265 Dutch apartments for around €40 mln.
The seller is Dutch fund manager Amvest. Most of the units are within four buildings and all are located within the Randstad, an urban area in the west of the Netherlands with a population of around eight million people and which includes Amsterdam, The Hague and Rotterdam.
The purchase was made on behalf of a German pension fund, and represents BNP Paribas REIM’s first steps into Dutch resi.
‘In Germany, our investors’ room for manoeuvre in acquiring properties with a satisfactory return is becoming ever more restricted due to continued high demand,’ said Reinhard Mattern, chairman of BNP Paribas REIM Germany.
‘We are now offering our customers an additional investment innovation in the form of residential real estate in Holland, where we already anticipate further deals in the near future.’