Foreign investors buy into big Dutch property fund Vesteda
Two foreign investment companies have sunk a combined €600m into Dutch housing fund Vesteda, website PropertyEU reports on Thursday.
Vesteda has a portfolio of 23,000 homes with a value of €3.7bn, making it one of the biggest housing investors in the Netherlands. Until now, only Dutch pension funds and insurance companies had invested in the company.
One of the new investors is Germany’s Allianz Real Estate, part of the German insurance giant Allianz. The second is of Asian origin but the name has not been disclosed.
The infusion of foreign equity includes €354m earmarked for acquisitions.
This, PropertyEU says, will allow the company to compete more effectively in the Dutch residential market, which a number of international investors, such as Round Hill and Patrizia Immobilien, have entered in the past 18 months.
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