Residential real estate firm Heimstaden has acquired 168 new-build apartments in Breda in the Netherlands.
Financial details were not disclosed.
The homes will be developed as part of the 5Tracks project by Synchroon and JP van Eesteren, both subsidiaries of TBI Holdings. The construction of the apartments is expected to start in the second half of 2021, with completion scheduled for the end of 2023.
Simon Kuijs, investment manager at Heimstaden, said: 'The portfolio expansion with new build homes marks the next step Heimstaden’s growth ambitions in the Netherlands.
'We’ve built our current portfolio in the Netherlands mainly by acquiring existing homes. By expanding our focus to new homes as well, we can grow our Dutch portfolio and at the same time contribute to the solution for the housing shortage in the Netherlands.'
Heimstaden’s Dutch portfolio currently consists of approximately 13,500 homes, and the firm plans to expand its home offering in the Netherlands to at least 20,000 homes in the near future.
Climate goals
The 168 solar panel equipped apartments will all have energy label A at completion, in line with Heimstaden’s vision on sustainability.
Roderick van Houwelingen, developer, on behalf of the Synchroon and JP van Eesteren, said: 'Heimstaden's environmental ambitions are a perfect fit for 5Tracks, where sustainability has been part of the design process from the start.
'Not only with regard to the building itself, but the biodiversity in the city itself has also been taken into account.'
Heimstaden has committed itself to the UN Sustainable Development Goals and the Paris Climate Agreement. It recently became the first major European residential real estate organisation to join the science based target initiative (SBTi), which helps organisations set climate goals based on scientific models.
New build
The 5Tracks project consists of three buildings in total. In addition to the 168 homes Heimstaden acquired, which will be realised in two of the buildings, 5Tracks will consist of 15,500 m2 of high-quality office space and a hotel with 174 rooms. The hotel was recently sold to Commerz Real.
At street level there will be commercial spaces for shops, restaurants and a gym. A city park will be built on top of the parking garage.
Roel Timmermans, associate director of residential investments at Cushman & Wakefield, advisors to Synchroon, sees the acquisition as an example of how the Dutch transaction market is developing: 'Until a few years ago, international parties were mainly interested in existing homes in the Netherlands.'
Timmermans added: 'But this acquisition shows how organisations such as Heimstaden can also expand their residential portfolio through new construction by broadening their focus.'
BarentsKrans and Loyens & Loeff provided Synchroon with legal guidance.
Heimstaden was assisted by legal advisors from Houthoff.
