Real estate investor Prime Pitch Asset Management has acquired residential care complex 'De Westhoek' in Zevenbergen, the Netherlands.
Financial details were not disclosed.
The apartments have been placed in a housing fund with a long-term investment horizon with a mixed investment strategy. The residential care complex was acquired from Estea.
The residential complex comprises 141 residential apartments and consists of 5 buildings. On the ground floor is a generously sized common room. The entire property is operated by care provider Surplus.
The purchase is in line with Prime Pitch's strategy, which focuses on long-term direct rental yield with exposure to the housing markets of medium-sized cities.
The emphasis is on rental housing in the affordable and mid-price segment. In addition, Prime Pitch said it wanted to contribute with this purchase to good and affordable housing for care.
Seller Estea was assisted in the transaction by Horstman Consultants, while Prime Pitch was advised by Vanderstelt, Bilt advocaten and Core Notariaat.
ING REF provided the acquisition financing.
