Heimstaden announces that it has acquired the Dutch management company Vivo Wonen from Round Hill Capital and Stadium Capital Partners following the acquisition of the 3rd largest residential portfolio within the Netherlands in April. The acquisition provides Heimstaden with an Amsterdam-based management platform specialized in managing the exact same portfolio, offering fully integrated management services including in-house sales, asset, technical, leasing and HOA management and the financial management (SPV Accounting) across the Netherlands. The acquisition underlines Heimstaden’s dedication to manage the whole value chain towards its customers and its passion for providing best-in-class customer experiences in all the markets where present.
"Vivo has an exceptional track record of managing residential real estate and with its in dept acquaintance and familiarity with the recently acquired Dutch portfolio, the company is a perfect fit for Heimstaden in our effort to become the preferred residential landlord in the Netherlands," says Patrik Hall, CEO of Heimstaden.
Vivo Wonen was established in 2014 to create a best-in-class residential management company and to specifically manage the Dutch residential holdings of Round Hill Capital, of which a large part was recently acquired by Heimstaden. Currently, the company manages more than 10,000 residential units across the Netherlands, including assets for one other international investor. The 31 employees (28 FTE) are experienced real estate professionals and Heimstaden’s vision with the acquisition is to fully integrate Vivo into the Heimstaden Group and let the company form the basis of all future business activities within the Netherlands with a re-branding of Vivo Wonen to Heimstaden Nederland BV.
"The Dutch residential market continues to be of interest to Heimstaden and we are dedicated to finding new acquisitions to further grow our business. With the acquisition of this local specialized residential management company we will have a great base for further expansion," says Christian Fladeland, CIO of Heimstaden. "Heimstaden will, with the expertise of Vivo combined with our experience from the Nordic region and internal property and asset management expertise as basis, focus on expanding and upgrading our portfolio by establishing efficient processes for carrying out sustainability investments and general modernization schemes, while still ensuring affordable and reasonable rent levels."