Global real estate investment manager AXA Investment Managers - Real Assets (AXA IMRA) has acquired a Dutch housing portfolio for €31.8 mln from local housing association Almelose Woningstichting ‘Beter Wonen’.
The 138-unit residential portfolio is located in the East of the Netherlands, and was purpose-built for the rental market between 2003 and 2009.
Almost fully occupied, the portfolio is split across three properties, totalling 16,282 m2. It comprises 91 units in Hengelo, in a building that includes 2,123 m2 of commercial space; and two properties in Wierden, one with 24 units and the other with 23, and an additional 540 m2 of commercial premises.
This is the third residential acquisition in the Netherlands by AXA IMRA on behalf of clients, following its entry into the market in 2016, the firm said.
The acquisition also adds to the more than €15 billion of residential assets that AXA IM - Real Assets manages across 10 countries on behalf of clients.
AXA IMRA was advised by Savills, Dentons Boekel and SGS Search.