US real estate investment manager Heitman has acquired an apartment complex in The Hague from local housing corporation Haag Wonen.
Financial details were not disclosed but information filed with the Dutch land registry show the property changed hands for €20.8 mln.
The property, known as Drentse Hoek, comprises 91 apartments, two business units and 85 parking spaces. It was developed by Kristal and completed in 2008. The complex forms part of an extensive urban renewal programme in The Hague’s southwest district and is fully rented.
Capital Value advised Haag Wonen on the sale of the asset.
In a separate transaction, Heitman has purchased a portfolio of 220 apartments and commercial units in Berlin. The deal was carried out on behalf of the same investor that acquired Drentse Hoek in The Hague, said Heitman.
In the past six years, the US firm has merged a Dutch and German portfolio consisting of more than 7,500 residential and commercial units valued at over €900 mln.
Founded in 1966, Heitman has global real estate assets under management of around $39 bn (€32 bn).
