The property consists of 4 478 sqm living space with 131 apartments and 128 parking spaces. The purchase price was EUR 22.75 million and the transaction was conducted as a company. Access is expected in the current quarter and is financed through existing cash and new loans.
"For a long time we have analyzed the market in the Netherlands and this property is the first to fit our criteria. Prices have risen in recent years in the Netherlands, but prices in several of the cities we studied are still attractive and the Netherlands has a stable rental market. The property has, besides small apartments, which we like, also a very low level of vacancy and that is something we like and gives us all the conditions for a favorable investment," says Magnus Nordholm, deputy CEO of Heimstaden.
Heimstaden's advisors has been Colliers (Denmark) and Immo Finance.
The sellers are the Dutch investment firm Hof Capital. The sellers have been advised by JLL.
Houthoff Law Firm has acted as legal adviser.
Heimstaden Enters New Market
Nordic — Heimstaden has completed its first transaction in the Netherlands. The property is located in Utrecht and consists of smaller apartments in close proximity to the university.