Pan-European real estate investor Patrizia Immobilien has acquired a large residential portfolio in the Netherlands for 鈧�152.5 mln. The deal was the largest of its kind in the Dutch market for 15 months.
The portfolio was sold by different funds managed by Holland Immo Group. It comprises 1,275 residential units at 23 locations mainly situated in the Randstad, one of Europe鈥榮 largest and economically most thriving agglomerations. There is also a significant property allocation in cities such as Amsterdam, Zwolle, Dordrecht and Den Bosch. In addition to the residential units, there are four commercial premises and over 500 parking spaces. The average unit size is about 82 m2.
Savills and Loyens & Loeff supported Patrizia Netherlands in the transaction. CBRE advised Holland Immo Group.
Manfred K眉hl, Holland Immo Group said: 'We are delighted with the sale of this portfolio to Patrizia. This fits within our selective exit strategy for our Dutch and German portfolios.'
Alexander Buijs, director of capital markets at CBRE, added: 'Transactions like these are quite special because of the limited offer of existing property portfolios in the Netherlands. This is the biggest residential portfolio transaction over the past 1.5 years and demand from Dutch and international investors for large property portfolios continues to remain strong.'
Patrizia has around 鈧�1.1 bn of assets under management in the Netherlands.
