German asset manager Patrizia Immobilien has announced the acquisition of a portfolio of 84 apartments in The Hague from an unnamed Dutch corporation on behalf of a new retail fund.
German asset manager Patrizia Immobilien has announced the acquisition of a portfolio of 84 apartments in The Hague from an unnamed Dutch corporation on behalf of a new retail fund.
The apartments were acquired for an undisclosed amount through Patrizia's Amsterdam-based subsidiary. They provide around 8,800 m2 of space in the Nieuw Park Leeuwenstein residential complex, which was constructed in 2005 and is located in the central district of Leidschendam-Voorburg. The portfolio also includes 89 parking spaces.
'The apartment complex's location in the Voorburg district of The Hague offers excellent conditions for a long-term investment,' commented Peter Helfrich, managing director of Patrizia Netherlands.
The assets will be contributed to a new retail fund to be launched by Patrizia GrundInvest, which earlier in February placed its first public Alternative Investment Fund, PATRIZIA GrundInvest Campus Aachen. The company plans to launch three further retail funds later this year.
