Greystar Real Estate Partners said on Monday that it has agreed to acquire 406 private-sector rental flats in the Levels development in the Hague, the Netherlands, from developer Stebru for an undisclosed amount.
The agreement follows the recent co-operation between the two parties in the realisation of OurDomain Rotterdam Blaak, a large-scale residential complex in the centre of Rotterdam.
Levels is a development of Stebru in collaboration with Vestia and the Municipality of The Hague located right next to public transport station Moerwijk in the Southwest of The Hague. The total development comprises 548 rental homes across all segments of the rental market. The 142 apartments in the social sector will be sold to a housing corporation. Greystar will acquire the remaining 406 private rental homes, of which 162 are in the affordable mid-priced segment. The project includes residents' facilities and public amenities in the plinth of the building and is due for completion in mid-2025.
Greystar's investment is part of the firm’s pan-European residential investment strategy.