CoΓΆperatie Draagt Elkanders Lasten (DELA) has sold a portfolio of Dutch residential property assets to Amvest and joined the managerβs core fund.
A residential portfolio built up by subsidiary DELA Vastgoed and worth β¬121m will be added to the managerβs fund.
DELA said it would invest in the fund over the next few years as it looked to increase its residential investments.
Frank Hendriksen, chair of the board at DELA Vastgoed, which manages the cooperativeβs β¬1.3bn real estate portfolio, said: βCoΓΆperatie DELA has indicated that it wants a marked expansion of the proportion of residential in its investment mix.
βWeβve now built up an attractive portfolio of residential properties, but we need to cooperate with outside parties to meet DELAβs ambition.β
Amvestβs fund, he said, offers DELA access to a βyoung and geographically diverse residential portfolio with a solid pipeline of new propertiesβ.
Wim Wensing, director of investment management at Amvest, said new capital from CoΓΆperatie DELA would allow it to continue investing in opportunities offered by the private sector residential market.
