Heimstaden acquires 772 residential units in the Netherlands
Heimstaden AB has acquired a Dutch residential portfolio consisting of 18 assets comprising of 772 residential units, 6 smaller commercial units and 25 parking units. The portfolio consists of 53,900 sqm lettable area in total. The seller is PATRIZIA AG.
The agreed purchase price is EUR 97.4m and the transaction is carried out as an asset deal. The transaction will initially be financed through existing cash as well as liquidity from majority owner, Fredensborg AS, and subsequently mortgage financing will be taken out for a part of the purchase price.
The acquisition is an obvious add-on to Heimstaden’s current portfolio, which will allow for even more efficient operations of the newly established platform in the Netherlands. After the acquisition Heimstaden will have a portfolio consisting of approximately 10,500 residential units in the Netherlands.
“Following our large acquisition earlier this year, that manifested our dedication to the Dutch residential market, we have been keen to pursue further expansion of our Dutch platform, where we see continued good value in the affordable housing segment” says Christian Fladeland, CIO of Heimstaden.
“This portfolio offers good quality affordable housing in good micro-locations in well-functioning cities, where we are already present or close by, allowing for strong operational efficiencies” says Mattis Falkentoft, Investment Manager at Heimstaden.
Heimstaden was advised by Loyens & Loeff (legal) and ImmoFinance (commercial) on the transaction. PATRIZIA AG was advised by Savills (commercial) and Loyens & Loeff (legal)
For further information, please contact:
Christian Fladeland, CIO +45 60 60 68 88 firstname.lastname@example.org
Mattis Falkentoft, Investment Manager +45 60 98 77 54 email@example.com
Heimstaden AB (publ)
Östra Promenaden 7 A, 211 28 Malmö,
Organisationsnummer 556670-0455, Bolagets säte Malmö,
Telefon, växel 0770 – 111 050, www.heimstaden.com,
Heimstaden is a leading real estate company in Northern Europe, with a focus on acquiring, refining, developing and managing housing and premises. Through our values, care, innovation and authenticity, we create values for our owners and caring homes for our tenants. Heimstaden has about 40 680 apartments and a property value of approximately SEK 83 billion value. Heimstad's preference share is listed on Nasdaq First North Premier. The head office is located in Malmö. Certified Adviser is Erik Penser Bank aktiebolag, +46 8-463 83 00 and firstname.lastname@example.org. For more information, see www.heimstaden.com