Bouwfonds' European Residential fund has expanded its holdings in the Netherlands from three to seven properties.
Bouwfonds' European Residential fund has expanded its holdings in the Netherlands from three to seven properties.
The open-ended real estate fund invested €39 mln to acquire one asset in the Amersfoort and two in Rotterdam.
In Amersfoort the fund purchased a residential property with 56 apartments. The investment volume amounts €8.6 mln. The vendor is CBRE Global Investors.
Amersfoort is the second largest municipality in the province of Utrecht with around 148,000 residents and is expected to grow 13% by 2025.
The fund acquired two other residential objects in Rotterdam, where the population is expected to increase 6% by 2025 from the current level of 611,000.
The first is a 35-storey building on the Weena, lying close to the main train station. It consists of 124 apartments.
The residential object on the Lodewijk Pincoffsweg, across from the city centre, has eight floors and 89 apartments and one commercial unit. Both residential objects in Rotterdam were bought from Bouwinvest. The investment volume amounts €30.1 mln.
The fund now holds properties in Germany, Denmark, France, the Netherlands, Norway and Sweden.
PropertyEU held an investment briefing on the Netherlands in June 2013. You can see the full report of the investment briefing, plus the presentation and the video interviews here.
Also, see the presentation and video interviews from the European Residential Investment Briefing held in Amsterdam in June 2013.
