Dutch institutional investment manager Bouwinvest has inked three agreements with developers that will add a total of 583 homes to its residential fund’s portfolio of mid-priced free-market rental housing in key cities across the Netherlands.
Financial details were not disclosed.
In the first deal, Bouwinvest has secured 350 apartments being developed in a regeneration of the historic 42.5-hectare former Hembrug munitions complex at Zaandam, near Amsterdam.
The properties will be part of a broader project to build a residential neighbourhood with around 1,000 homes of varying sizes and price brackets, a substantial proportion of which will be social or free-market rental housing.
The fund has also signed an agreement with developer Van Rhijn Bouw to acquire 97 apartments in ‘The Monarch’ project in Haarlemmermeer, the municipality next to Amsterdam’s Schiphol Airport.
The purchase fits with the fund’s goal of growing its portfolio to 1,000 rental units by 2020 in the municipality of Haarlemmermeer. A proportion of the portfolio will be priced at mid-market rents, in keeping with the policy of providing affordable homes.
Furthermore, Bouwinvest has agreed to acquire a portfolio of 136 rental homes to be built by developer VanWonen. The properties are spread across four projects in the cities of Groningen, Apeldoorn and Arnhem, which are in the north and east of the Netherlands.
The projects are either apartment buildings or single-family homes, which will be rented out under free-market tenancies. Bouwinvest also acquired the first purchase rights to homes in another project, while Bouwinvest Development has sold two land positions in Zwolle and Groningen to VanWonen.