Heimstaden closes €44 mln Dutch housing deal during lockdown

Swedish residential landlord Heimstaden has added to its Dutch portfolio with the acquisition of 142 apartments for €44 mln from local investor DamBorg.

The company said talks first started before the government had taken any nationwide measures, but the deal was closed very recently when the situation was as it is today in the Netherlands.

'We have a long-term vision and still believe strongly in the housing market. When we acquire homes, we do so with the intention of keeping them. Our ambition to expand our existing Dutch home portfolio has not changed,' said investment manager Robert-Jan Reeuwijk who was involved in the transaction. 

The apartments are spread over 21 complexes, of which 15 are located in Rotterdam and the remainder in Amsterdam. The units are a mix of social and private market (free sector) homes.

Malmo-based Heimstaden entered the Dutch market in 2018 and has since built up a portfolio of more than 10,000 residential assets. Under the company's long-term holding strategy, it plans to manage the majority of these properties itself from various regional offices.

The deal with DamBorg is the first to be completed by Heimstaden's in-house investment team in the Netherlands.

DamBorg was advised on the sale by DRS Makelaars.